Bitcoin Sellers Dry Up: A Comedy of Errors in Cryptocurrency! 😄

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It seems our dear Bitcoin (BTC) has wandered into what the experts rather dramatically refer to as a “consolidation zone,” wherein exchange inflows are staggering at multiyear lows, much like my enthusiasm for a Tuesday afternoon lecture on the history of paperclips.

In a recent proclamation on X, the ever-optimistic Axel Adler Jr.—an illustrious contributor to the grand tapestry of onchain analytics at CryptoQuant—has astutely noted that Bitcoin sellers have, indeed, “dried up.” One can only imagine them wilting away in the heat of market volatility, or perhaps sipping piña coladas in some tropical paradise!

Average exchange inflows down 64% since November—How Droll!

It appears Bitcoin’s sell-side pressure has receded quite dramatically since that historic, and rather theatrical, surge above the $100,000 mark in late 2024. Data, as they say, never lies. Honestly, the sheer calculation of BTC inflows to major crypto exchanges is enough to make one weep with joy.

Our dear Adler, in a moment of analytical brilliance, revealed a precipitous drop in the 7-day average total sold at market. “The average selling pressure on top exchanges has plummeted from 81K to a mere 29K BTC per day,” he summarized in what must have been a thrilling revelation, alongside a very serious-looking CryptoQuant chart.

“Welcome to the zone of asymmetric demand.”

On March 23, the 7-day average inflows plunged to levels unseen since May 2023—a time when BTC/USD was slumming it under $30,000. It’s almost poetic, isn’t it? Given that today’s prices are nearly triple that amount, one might suspect a plot twist in the tale of the 2025 Bitcoin bull market correction.

“The market has gallantly absorbed waves of profit-taking following the majestic breach above $100K,” he noted, reminiscent of a hero emerging unscathed from a burning building.

“Sellers have dried up, and buyers seem comfortable with current price levels—setting the stage for a structural supply shortage. April-May could turn into a consolidation zone—the calm before the next grand impulse.”

Binance Inflows Indicate a “More Neutral Stance”—How Refreshingly Boring!

As the cheeky CryptoMoon reports, signs are afoot indicating that market sentiment is aligning rather delectably with the actual price reality—an idea as novel as fish-in-a-barrel shooting.

The Coinbase Premium, our dear proxy for US exchange demand, continues its languorous drift around neutral levels, recovering from unfortunate forays into negative territory—much like a cat returning to a sunny windowsill. Yet, without a genuine price rebound, one wonders how long the respite can last.

Nonetheless, short-term analysis dangles a tantalizing warning of a fresh uptick in inflows this week, particularly concerning our friend Binance. “Short Term Holders are sending significantly less BTC to Binance—only 6,300 BTC, compared to an average of 24,700 BTC to other exchanges,” noted Joao Wedson, founder and CEO of the data analysis platform Alphractal, in one of those inevitably titled “Quicktake” blog posts.

“This suggests lower selling pressure on Binance, with many traders possibly adopting a more neutral stance.”

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2025-04-01 10:27