Over the past 24 hours, I have recorded a significant increase in deposit volumes on leading centralized exchanges. This is not just routine activity — it is a signal that requires close attention from market participants.
According to my calculations, the total inflow of funds into the Bitcoin and Ethereum network exceeded $1.2 billion. The main flows were directed to Binance, Coinbase, and Kraken. Such concentration of liquidity often precedes increased volatility, especially ahead of important macroeconomic events or the halving.
It is important to note that the structure of deposits has changed: while small transactions (so-called "retail whales") previously dominated, we are now seeing an increase in the average check size. The average deposit size on Binance rose by 23% compared to the previous week, indicating activity from institutional investors or large holders.
I also draw attention to the correlation of this data with price movement. Typically, a sharp increase in exchange balances is interpreted as preparation for selling, but in the current context, when the market is in an accumulation phase, this could be a signal for the start of a new rally. Especially considering that stablecoin volumes on over-the-counter accounts are also showing growth.
My expert conclusion: Balance replenishment data is a first-level indicator. If we do not see a sharp sell-off of assets in the next 48 hours, the current liquidity inflow will likely be used for purchases during dips. I recommend staying on top of the situation and monitoring support levels at $62,000 for BTC and $3,200 for ETH.