Retail BTC inflows to major exchanges hit 9-year low

Inflows from Bitcoin retail investors to major exchanges have hit a nine-year low, with small-scale investment activity having nearly disappeared, according to an analysis by CryptoQuant contributor Darkfost. The analysis measures retail activity based on inflows of under 1 BTC to Binance. Darkfost noted that the 30-day moving average for these small-scale inflows has fallen to 332 BTC, the lowest level since Binance launched in 2017. He suggested that this trend indicates a potential centralization of Bitcoin ownership, a process being accelerated by the introduction of spot Bitcoin ETFs. For comparison, the monthly average for retail inflows to Binance in January 2024 was approximately 1,000 BTC, about three times the current level.