Surge in BTC exchange deposits signals growing sell pressure, analyst says

An analysis suggests that a sharp increase in Bitcoin deposits to cryptocurrency exchanges could signal growing selling pressure. Julio Moreno, a senior analyst at CryptoQuant, noted that as of March 16, BTC inflows to exchanges reached 6,100 per hour, the highest level since Feb. 20. He added that large-scale transactions accounted for approximately 63% of the total inflow. This movement comes amid a strong rally that has seen Bitcoin rise about 12% this month to surpass $75,000. Moreno explained that the market typically views an increase in exchange deposits as a preliminary step for selling or converting to stablecoins, and that large BTC deposits are often linked to expanding sell-side pressure.