Bitcoin (BTC) traded mostly sideways on Friday amid high market liquidity. Over the past week the world’s largest cryptocurrency fell roughly 2%, reflecting steady selling pressure across major digital assets rather than a broad market collapse.
Analyst Ali Martinez reported that more than 10,000 BTC—about $760 million—were deposited to exchanges over the last week. Such inflows are closely watched because they can signal potential selling from large holders or heightened trading activity, and they often raise short-term volatility concerns. That said, coins moved to exchanges are not always sold immediately; they can be used for derivatives trading, hedging, or internal custody reassignment.
CryptoQuant’s data suggests the increase in exchange deposits could either be the start of a trend or simply routine market activity. CryptoQuant’s evaluation warned that if these inflows aren’t absorbed by strong demand, Bitcoin could test the $74,000–$75,000 area, a key liquidity zone where buyers may seek to defend the price.
On-chain data from Glassnode also indicates the market sits at a sensitive juncture. While Glassnode’s snapshot put spot price near $75,700—below several important investor cost-basis levels—the average price for short-term holders is about $78,900 and active investors’ cost is roughly $85,000, leaving many recent buyers in unrealized losses. By contrast, the Realized Price, the average price at which all coins last moved, remains much lower at around $54,100, implying long-term holders are generally still in profit.
Analyst Ted observed a narrowing range: strong buy-side interest between $73,000 and $74,000, and heavy sell pressure between $79,000 and $80,000. That configuration points to continued range-bound trading unless a decisive catalyst emerges.
At press time BTC was trading at $77,324, up about 1.66% over the past 24 hours.