Autor Cointelegraph by Biraajmaan Tamuly

Bitcoin (BTC) mid-size wallet inflows to Binance fell to 3,000–4,000 BTC, marking a multi-year low in sell-side activity from this cohort.This coincides with Coinbase recording about 8,500 BTC in inflows from similar wallets on April 19, while other exchanges saw much smaller flows. Binance exchange Bitcoin inflows have also fallen to 2023 levels, but how is this significant to today’s market?Binance BTC inflows cool sharply to 2023 levelsCryptoQuant data classifies mid-size wallets as the entities holding roughly 100–1,000 BTC, often linked to active traders and smaller institutions. These wallets tend to move coins to the exchanges during distribution periods, making their inflows a useful proxy for near-term selling intent.Binance inflow structure by Investor size. Source: CryptoQuantCrypto analyst Amr Taha noted that seven-day average Bitcoin inflows from this cohort into Binance have dropped to 3,000–4,000 BTC. This remains well below the deposits observed during April to May 2023, which ranged from 5,500 to 6,000 BTC.The lowered inflow levels suggest reduced immediate sell-side pressure, as fewer coins are being positioned on the exchange, although inflows alone do not translate into active selling.The chart shows no comparable surge from retail participants (1-100 BTC) either, with smaller wallets contributing limited inflows of less than 300 BTC on Tuesday. This indicates a contained flow profile rather than broad-based selling pressure.Related: Bitcoin metrics line up bull signals with $78K the BTC price level to beatBitcoin flows on Coinbase dominateThe distribution of BTC inflows across exchanges provides another perspective. Data from CryptoQuant shows that mid-size investor inflows into Coinbase reached about 8,500 BTC on April 19, approaching levels last seen after the FTX exchange collapse in November 2022.Bitcoin mid-size wallet inflows on Coinbase. Source: CryptoQuantBTC activity across other exchanges remained relatively muted. Amr Taha noted that a broad distribution phase would typically reflect synchronized inflows across multiple exchanges, which is not evident in the current data.A similar spike on Coinbase was observed on Jan. 14, shortly before Bitcoin declined from $95,000 to below $67,000 in February. However, the current conditions differ, as exchange inflows appear fragmented rather than market-wide, suggesting mixed sentiment rather than coordinated distribution.Data from Bitcoin researcher Axel Adler Jr. also highlights a deeper shift in supply dynamics. Bitcoin’s 30-day net flow dropped to -300,000 BTC in March from +94,000 BTC in February, signaling a strong withdrawal phase. The metric stands near -98,000 BTC as of April 21, with outflows continuing at a slower pace.Bitcoin 30D net flows. Source: CryptoQuantAdler Jr. added that exchange reserves have declined for seven consecutive weeks, falling by over 105,000 BTC since early March. Notably, even during the April 2 pullback toward $67,000, there was no significant return of coins to exchanges. Related: Inside the ‘fake police raid’ that forced a $1M Bitcoin transfer

Bitcoin (BTC) rebounded above $76,000 on Tuesday, after the spot market demand on Coinbase exchange saw a second week of bullish volume trends.Net spot buy volume has climbed sharply over the past 15 days, signaling sustained strength from bulls, but will BTC be able to turn the $75,000 level into a long-term support level?Coinbase demand keeps spot volumes trending higherThe aggregated spot cumulative volume delta (CVD) continues to trend higher, rising to $517 million on Tuesday, up from $55 million on April 17. The broader CVD across spot and futures is above $8.5 billion, with BTC price consolidating just below $77,000 following Monday’s recovery. BTC price, spot, and futures CVD and funding rate. Source: Velo.dataThe buy-side remained elevated and flat, with no clear distribution or selling over the past 24 hours. BTC has held firm while spot demand has absorbed selling pressure, keeping the upward slope in CVD intact.The funding rates are slightly negative at -0.003%, indicating traders are still leaning bearish, which may trigger a squeeze toward the upside.Crypto analyst Ardi noted that Coinbase activity has played a larger role in BTC’s 12% recovery in April. “Coinbase premium has been doing more of the work in this range than people realize,” Ardi said, pointing to past rallies that aligned with sustained positive premiums. Bitcoin Coinbase Premium Analysis by Ardi. Source: XThe premium, currently at 0.05, now serves as an early signal of demand strength. Ardi explained that a flattening or shift back into negative territory would point to thinning order books, which may slow down bullish price action. Related: Bitcoin risks losing $70K as Strategy’s STRC slips below $100Should traders expect $88,000 in May?From a technical standpoint, Bitcoin printed a bullish engulfing candle on Monday, reversing the 2.5% dip on Sunday and signaling renewed strength. The price also moved back above the 100-day exponential moving average (EMA) after last week’s first retest of the level in more than four months.BTC/USDT on the one-day chart. Source: Cointelegraph/TradingViewOn the higher time frame, Bitcoin continues to form higher highs and higher lows, keeping the trend intact. The focus now is on how the price behaves around $75,000, which could serve as a key inflection point. Liquidity remains concentrated below, with about $2.8 billion in cumulative leveraged positions between $73,000 and $75,000, forming a support range. The overhead supply near $76,000 to $78,000 stands at around $1.8 billion in short leveraged positions. Bitcoin liquidation map. Source: CoinGlassMN Capital founder Michaël van de Poppe said the recent pullback aligns with a typical weekend pattern, with risk appetite returning as the markets reopened on Monday.The analyst pointed to easing volatility and last week’s $1 billion in inflows into exchange-traded funds (ETFs) as supportive factors.Van de Poppe added that continued strength near resistance could open the door to a move toward the $85,000 to $88,000 range in May, if broader conditions remain unchanged.Bitcoin one-day analysis. Source: Michaël van de Poppe/XRelated: VIX drops 45% in three weeks: Is Bitcoin price ready to retake $80K?