CryptoQuant: Surge in exchange deposits signals market volatility

A surge in cryptocurrency deposits to exchanges, including BTC and ETH, suggests forthcoming market volatility, CryptoQuant said in a recent report. According to The Block, CryptoQuant research analyst Julio Moreno explained that BTC deposits to exchanges rose to 49,000 BTC on June 30. He noted that this increase was driven by whales and institutional investors rather than retail traders, and the movement was observed as BTC tested the $60,000 support level. Moreno added that ETH deposits to exchanges have also increased, adding to selling pressure, while the number of altcoin deposit transactions hit a two-month high early this week.