Bitcoin Exchange Flows Suggest Clear Accumulation Trend: Analyst

Bitcoin has been leaving centralized crypto exchanges, which is a good sign that investors are accumulating and holding.

Bitcoin exchange outflows have been ongoing for two months, with many days seeing only outflows, observed CryptoQuant analyst ‘Darkfost’, who described it as “insane.” Since the beginning of March, the monthly average exchange flow has turned negative and currently stands at -1,640 BTC.

“This suggests a clear accumulation trend that has been building over the past few months,” they said, adding that when BTC leaves exchanges like this, “it is often with the intention of longer-term holding.”

“When this kind of behavior persists, it is no longer about sporadic transfers sometimes driven by exchanges themselves but rather a genuine structural trend, which is a very positive signal.”

https://twitter.com/Darkfost_Coc/status/2044408063398908157?ref_src=twsrc%5Etfw” target=”_blank

Short-term selling pressure as BTC hits resistance

However, CryptoQuant reported the opposite on Wednesday as Bitcoin hit resistance at $75,000, “and exchange inflows surged.” Around 11,000 BTC per hour moved to exchanges, the highest since December 2025, and above the March spike that preceded a pullback, it noted.

“Large holders are positioning to distribute into strength. Watch for selling pressure.”

The analytics provider also noted that the average Bitcoin exchange deposit surged to 2.25 BTC, the highest daily reading since July 2024.

This was driven by large individual transfers to Binance exceeding 1,000 BTC, “confirming that the inflow spike is large-holder driven rather than retail activity,” it stated, adding that this pattern has historically preceded sustained selling pressure and price pullbacks.

Glassnode reported in its weekly on-chain update that Bitcoin has expanded to just 5.2% below the “True Market Mean” at $78,100, which remains the key near-term resistance.

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“While price has yet to test and stabilize above this key threshold, the probability of a spike toward and potentially above it remains considerable in the mid-term.”

BTC Price Outlook

Bitcoin hit an intraday high of $75,200 in late trading on Wednesday but had retreated back to $74,500 before moving to reclaim the $75,000 level during Thursday morning trading in Asia. It remains at the upper bounds of a ten-week range-bound channel and faces heavy resistance here.

However, analyst Ted Pillows claimed that BTC has broken out of its seven-month downtrend, predicting:

“This could give one final push to Bitcoin towards the $77,000 to $78,000 level. After that, BTC will drop to new lows in Q2 2026.”