Bitcoin and Ethereum prices have maintained their upward trend recently, with BTC holding steady above $76,000 and ETH hovering around $2,300. Alongside the price increase, on-chain data shows that the two major assets are accelerating their flow into major cryptocurrency exchanges, reflecting a potential shift in market sentiment.
CryptoQuant analyst Arab Chain pointed out that the inflow of BTC and ETH into Binance and Coinbase has rebounded to its highest level since February this year. The latest data shows that Binance received approximately $7.49 billion in inflows, while Coinbase saw around $7.6 billion. Such movements toward exchanges are typically associated with increased trading willingness or profit-taking tendencies, especially during periods of significant price volatility or market uncertainty.
This surge in inflows marks a significant shift in market liquidity behavior, ending the previous period of relative calm. If this trend continues, it could trigger new selling pressure, leading to market fluctuations or impacting future trends. However, high inflows sometimes also reflect an overall increase in market activity, potentially accompanied by growth in trading volume and improved liquidity, which may support market stability in the short term.
On the other hand, the cost basis for long-term Bitcoin holders is rapidly rising. Data shows that the realized price for long-term holders is currently $45,000 and is expected to move toward $50,000 within the next 90 days. When the cost basis of steadfast holders rises so strongly, it indicates that the market is being anchored at higher levels, which may suggest potential market resilience and the possibility of a sustained upward trend.