CryptoQuant’s weekly report, “Incoming Volatility?”, they make a clean, data-rich space where something is about to break.
Bitcoin exchanges peaked at around 49,000 BTC on June 30 – the highest reading seen only four times in 2026. Ethereum inflows exceeded 1.25 million ETH in the same week. Altcoin deposit outflow hit about 45,000 a day, the highest in two months and the exact example that ran Bitcoin slide from $82K at the beginning of May to below $58K at the end of June.
Each of those indicators has been leading a downward move, usually down.
And yet, as of Thursday morning, Bitcoin is trading at around $61,600 – back above $60K supports the report’s frames as a line in the sand, and is up several thousand dollars from what was published on Wednesday about $58,600. The chain is clamoring for the threat to be removed but the price has just removed it.
The smallest detail in the report isn’t the amount of money – it’s what it is. The average size doubled from 1 BTC to 2 BTC. It is not a retailer afraid to sell in dribs and drabs; then the whales and corporations are also deliberately investing in the exchange.
As CryptoQuant’s Julio Moreno points out, the average jump in deposit size is much more than volume alone, because it shows purpose and not noise. When senior owners are in line to sell, they usually know something, or think they do.
So why did the price go the other way? Because results don’t happen by chance. The bleeding of Bitcoin in June had nothing to do with anything that comes from crypto-natives rather than money that comes from technology and semiconductor sales, the US-Iran conflict that is causing fear of inflation, and Strategy. to cut his pile.
Mt. Gox to move 10,422 BTC last month revived concerns about selling debt ahead of the October deadline. Spot Bitcoin ETFs, meanwhile, have poured billions into a series of two exit groups.
The whales that move the money to the exchange may only be setting up the big storm rather than actually starting it.
Thursday’s bounce came courtesy of a Fed comment that eased fears of a downturn. That’s what is being said: in this market, macro is the dog and the chain exit is the tail.
The price of Bitcoin
At the time of writing, Bitcoin is sales at $61,469.98, up $1,322.54 (+2.2%) on the day after a 24-hour low of $59,520 and reaching close to $62,148 around 10 am.
The recovery above $ 60,000 – with $ 32.49B in daily volume and $ 1.23T market cap – is in line with the report that was calculated that $ 60K is part of the war, and today the bulls are holding.
