Bitcoin is experiencing two distinct on-chain trends as it tests resistance around $75,000. Exchange outflows have persisted for two months, suggesting an accumulation trend for longer-term holding, according to one analyst. Meanwhile, recent price resistance triggered a surge of large BTC inflows to exchanges, historically a precursor to selling pressure.
Bitcoin exchange outflows have continued for two months, with many days seeing only withdrawals. CryptoQuant analyst Darkfost described the duration as “insane.” The monthly average flow turned negative in March, currently standing at -1,640 BTC.
“This suggests a clear accumulation trend that has been building over the past few months,” they stated. The analyst noted that such persistent behavior indicates a genuine structural trend rather than sporadic transfers.
However, CryptoQuant reported the opposite when Bitcoin hit resistance at $75,000. Exchange inflows surged to around 11,000 BTC per hour, the highest rate since December 2025.
“Large holders are positioning to distribute into strength. Watch for selling pressure,” the analytics provider noted. The average deposit size spiked to 2.25 BTC, driven by large transfers to Binance exceeding 1,000 BTC.
This pattern confirms the inflow spike is large-holder driven and has historically preceded price pullbacks. Glassnode reported that Bitcoin remains 5.2% below a key near-term resistance level known as the “True Market Mean” at $78,100.
Bitcoin reached an intraday high of $75,200 before retreating. It remains at the upper bounds of a ten-week range-bound channel. Analyst Ted Pillows claimed BTC has broken its seven-month downtrend.
“This could give one final push to Bitcoin towards the $77,000 to $78,000 level. After that, BTC will drop to new lows in Q2 2026,” Pillows predicted.
