Bitcoin (BTC) faces a new “consolidation zone” as exchange inflows tag multiyear lows, new analysis says.
In an April 1 post on X, Axel Adler Jr., a contributor to onchain analytics platform CryptoQuant, declared that Bitcoin sellers had “dried up.”
Average exchange inflows down 64% since November
Bitcoin sell-side pressure has eased considerably since its first push above the $100,000 mark in late 2024, data shows.
Analyzing BTC inflows to major crypto exchanges, Adler revealed a sharp drop in the seven-day average total sent for sale.
“The average selling pressure on top exchanges has dropped from 81K to 29K BTC per day,” he said alongside a CryptoQuant chart.
“Welcome to the zone of asymmetric demand.”
Bitcoin 7-day average exchange inflows. Source: Axel Adler Jr./X
On March 23, seven-day average inflows hit their lowest levels since May 2023, when BTC/USD traded at less than $30,000.
Given that current prices are almost three times that amount, Adler sees the potential for light at the end of the tunnel for a 2025 Bitcoin bull market correction.
“The market has successfully absorbed waves of profit-taking following the break above $100K,” he concluded.
“Sellers have dried up, and buyers seem comfortable with current price levels – setting the stage for a structural supply shortage. April-May could turn into a consolidation zone – a calm before the next impulse.”
Binance inflows hint at a “more neutral stance”
As Cointelegraph reported, signs already hint that market sentiment has become aligned with price reality.
Related: Bitcoin trader issues ‘overbought’ warning as BTC price eyes $84K
The Coinbase Premium, which acts as a proxy for US exchange demand, continues to circle neutral levels, recovering from negative territory despite no real price rebound.
That said, short-term analysis warns of a fresh uptick in inflows this week — with the exception of global exchange Binance.
“Short Term Holders are sending significantly less BTC to Binance — only 6,300 BTC, compared to an average of 24,700 BTC to other exchanges,” CryptoQuant contributor Joao Wedson, founder and CEO of data analysis platform Alphractal, noted in one of its “Quicktake” blog posts.
“This suggests lower selling pressure on Binance, with many traders possibly adopting a more neutral stance.”
Binance vs. other exchange BTC inflows from short-term holders (screenshot). Source: CryptoQuant
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