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Analyst: Long-term held Bitcoin continues to flow back to CEX, making it difficult for Bitcoin to sustain a rebound rally

MarsBitNews
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Mars Finance News, on June 8, analyst Shayan cited CryptoQuant data to say that the trading platform inflow shown in the “Spent Output Age Segmentation” chart indicates a clear increase in the number of old coins being deposited into exchanges, especially coins with two holding periods: 3–6 months and 6–12 months. The recent inflow peaks are among the largest peaks visible on the chart and have all occurred during periods of sustained declines in the Bitcoin price. Historically, large inflows from long-term holders into trading platforms often mean that selling activity is intensifying—coins that have been dormant for months are transferred to exchanges and are likely to be sold. Although a single inflow peak does not necessarily signal further downside, repeated spikes in inflows during a declining market often reflect weakening confidence among holders. The latest data shows that mid-term holders have become increasingly active during the recent pullback. If these inflows continue, they will keep creating supply pressure, making it difficult for Bitcoin to achieve a sustained rebound in the short term. Overall, Bitcoin is trying to hold the key support zone of $60,000–$62,000. While a short-term rebound is already underway, both market structure and on-chain activity indicate that bulls still have a lot of work to do before confirming a broader trend reversal.
BTC0.89%
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