Bitcoin Market Volatility Sparks Fear Amid Massive Exchange Inflows

Just two weeks ago, the crypto market was marked by extreme greed. Now, it’s gripped by fear.

Just two weeks ago, the #crypto market was all about extreme greed. Now it's gripped by fear. pic.twitter.com/0mwTGdaWkK

— Ali (@ali_charts) July 5, 2024

This week, nearly 30,000 BTC, valued at $1.73 billion, entered exchanges, suggesting panic selling as the price declines. Wallets holding over 10,000 BTC have benefited significantly from the past six weeks of volatility.

Nearly 30k $BTC, worth $1.73 billion entered exchanges this week. With the price declining, this influx suggests that panic sellers are offloading their assets. pic.twitter.com/vbzPsCOpif

— IntoTheBlock (@intotheblock) July 5, 2024

These large addresses, likely dominated by exchange liquidity providers, have accumulated an additional 212,450 BTC, increasing their share of the total supply by 1.05%.