CryptoQuant: The amount of deposits from large holders to exchanges significantly increased during the decline in Bitcoin prices

According to The Block, on-chain analytics firm CryptoQuant pointed out that following last week's drop in Bitcoin price below $80,000, the amount of Bitcoin transferred to exchanges by large holders surged.

Data shows that the daily inflow to exchanges reached 9,000 BTC, with 45% coming from large deposits of over 100 BTC, a ratio described as "exceptionally high." The average single deposit amount in November skyrocketed from 0.6 BTC to 1.23 BTC, hitting a one-year high. Meanwhile, the average single deposit amount on Binance increased from 12 BTC at the beginning of the month to 37 BTC recently. CryptoQuant noted that this further supports the view that "large holders are reducing their Bitcoin holdings through exchanges," as ongoing selling pressure from investors continues to weigh on the market amid the current price correction.

Activity on exchanges for other major assets is also vibrant. Although the total inflow of Ethereum has not significantly increased, the proportion of large deposits has risen. As the price of Ethereum fell to around $2,900, the average daily single deposit amount reached 41.7 ETH, marking a nearly three-year high. In the case of altcoins, the daily trading volume transferred to exchanges has consistently exceeded 40,000 transactions since July, peaking at 78,000 transactions on October 17.