In the ongoing bear market, large holders are driving Bitcoin inflows into cryptocurrency exchanges, with the exchange whale ratio reaching 0.64, the highest since October 2015. This indicates that 64% of Bitcoin inflows are from the top ten deposit addresses, highlighting significant selling activity by major investors. The average transaction size has also increased to 1.58 BTC, the highest since mid-2022. Bitcoin exchange inflows surged to 60,000 BTC earlier this month before dropping to a seven-day average of 23,000 BTC, a 60% decline, suggesting a reduction in panic selling. Altcoin deposits have risen by 22% since 2026, indicating increased volatility and reduced market confidence. Meanwhile, stablecoin inflows have plummeted, with Tether (USDT) net inflows dropping from $616 million in November 2025 to $27 million, reflecting diminished buying power and liquidity.