BroadChain learned that on April 16, CryptoQuant stated that Bitcoin’s recent rally is facing increasingly significant selling pressure, as on-chain data shows a notable rise in inflows to exchanges.
Bitcoin previously surged above $76,000 but retreated under pressure near the critical resistance zone of approximately $76,800. This level corresponds to the “on-chain realized price” range, which historically often acts as a rally top, as a large number of holders—whose positions are nearing breakeven—tend to sell.
Data indicates that the hourly inflow of Bitcoin into exchanges has risen to about 11,000 BTC, the highest level since late 2025, typically viewed as a potential sell signal. Meanwhile, the scale of large holder transfers into exchanges is also expanding.
Analysis suggests that if this resistance level remains effective, Bitcoin may face short-term downward pressure, with a key support level near $67,600.