$6 Billion BTC Buying Spree Hits Exchanges as Bitcoin Price Races toward $100,000
Bitcoin surged sharply this week, climbing from roughly $91,000 on Monday to just above $95,000 by Wednesday. Meanwhile, on-chain data reveals a massive influx of BTC into major exchange wallets.
The dramatic price action has sparked discussions, with some speculating that the market may be experiencing a coordinated buying push.
Massive $6 Billion BTC Inflows Drive Bitcoin Toward $100,000Data from on-chain analytics firm Arkham shows that Binance wallets alone added 32,752 BTC across both cold and hot wallets, while Coinbase saw an increase of 26,486 BTC.
Smaller exchanges also recorded notable inflows, with Kraken and Bitfinex adding 3,508 BTC and 3,000 BTC, respectively. In total, these movements represent roughly $6 billion in combined buying power, according to Arkham.
Bitcoin Inflows into Exchanges Over the Last 24 Hours. Source: Arkham
The scale of these transfers has fueled debate about whether the recent price surge was driven by coordinated market activity. Binance CEO Changpeng Zhao addressed the speculation, clarifying that the BTC deposits reflected user purchases on exchange wallets rather than internal buys by the exchange itself.
users on those exchanges bought…
— CZ