Bitcoin traded largely sideways on Friday as liquidity remained high and the market absorbed steady selling pressure. Over the past week BTC slipped roughly 2%, a modest decline driven by rotation among major digital assets rather than a sudden crash.
Analyst Ali Martinez flagged that exchanges received just over 10,000 BTC—about $760 million—during the last seven days. Large inflows to exchanges are closely watched because they can presage sizeable sell orders or increased trading activity; however, coins sent to exchange wallets are not automatically sold. Movements can reflect derivatives positioning, hedging, custody transfers, or internal rebalancing.
CryptoQuant’s data noted the recent uptick in deposits could be the start of a larger trend or simply routine churn. Their assessment warned that if the incoming supply isn’t met with strong buying demand, Bitcoin could revisit the $74,000–$75,000 band, a key liquidity zone where buyers often step in.
On-chain figures from Glassnode show the market sitting at a delicate point. A recent Glassnode snapshot put the spot price near $75,700 and highlighted that many short-term participants bought around $78,900, while active investors’ average cost is roughly $85,000—levels that leave a number of recent entrants underwater. By contrast, the Realized Price (the average price at which coins last changed hands) remains much lower, near $54,100, indicating long-term holders are broadly still profitable.
Market observers also note tightening ranges: one analyst pointed to robust buy interest between $73,000 and $74,000 and concentrated sell pressure between $79,000 and $80,000. That setup favors continued range-bound trading unless a clear catalyst shifts sentiment.
At press time BTC was trading around $77,324, up about 1.66% on the day.