Bitcoin [BTC] Exchange Outflows Spike as Over 20,000 BTC Move to Market

Over the last 96 hours, over 21,000 Bitcoin [BTC] have been transferred to exchanges, marking a significant spike in exchange reserves.

Over the past 96 hours, over 21,000 Bitcoin (BTC) have been transferred to exchanges, resulting in a substantial spike in exchange reserves.

Historically, such massive inflows of Bitcoin to exchanges are often associated with increased sell-side pressure, especially as traders tend to anticipate local tops or market reversals.

Bitcoin has been trading relatively flat around the $83,700 level as it struggles to gain momentum following a recent dip. As the market closely observes whether these inflows will trigger a correction or if bullish forces will prevail.

What’s Bitcoin preparing for?

On the 4-hour chart, Bitcoin appeared to be forming a textbook cup and handle pattern, which traditionally signals a potential continuation of the previous uptrend.

BTC price today is $85,138.04 up 1.02% in 24 hours.

The neckline of the pattern sat at the $88,860 level—a key resistance zone that must be cleared to confirm a breakout.

A decisive move above this level could trigger a wave of buying pressure, potentially opening the path toward new highs for Bitcoin.

However, the pattern has yet to complete, and the handle portion remains sensitive to broader market sentiment.

If bulls fail to build enough momentum, Bitcoin could pull back toward the $81,535 support level, which has proven resilient in previous dips.

(Image: TradingView)

Is momentum weakening?

Market sentiment showed no clear direction at press time, with bulls and bears perfectly matched at 130 each over the past seven days.

This equilibrium indicated deep uncertainty in the market, where any minor event could tip the scales sharply.

At the same time, Bitcoin’s network activity has dropped significantly, approaching the historic lows seen in 2018 and 2021.

A decline in on-chain engagement often reflects reduced user demand and weaker market participation. However, renewed volume or institutional buying could quickly reverse this decline.

(Image: CryptoQuant)

Whale buying intensifies

Despite the rising exchange reserves, whales and institutions appear to be accumulating BTC aggressively.

Wallets holding over 10,000 BTC have increased their holdings, pushing the accumulation score close to 0.6, according to Glassnode. This score, which ranges from 0 to 1, measures the rate at which large investors are buying and holding onto their coins.

Moreover, Tether has acquired $750 million worth of BTC in 2025, now holding over 100,000 BTC valued at $8.5 billion.

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