BTC probing $53,000 again—are exchange wallet deposits rising? What is the market worried about?

Author: Logan Hitchcock; Compiled by: Baihua Blockchain

Bitcoin inflows into centralized exchanges — which are often seen as a precursor to selling — have risen noticeably over the past week; at the same time, BTC briefly dipped below $60,000. This data comes from on-chain analytics firm CryptoQuant.

The single-day deposit volume for the leading crypto asset once neared 50,000 BTC, which is only the fourth time this year it has reached that level. CryptoQuant said that in other similar instances before, the market subsequently saw a clear amplification of price volatility.

In a Thursday report, CryptoQuant wrote: “This inflow surge comes as Bitcoin tests the key $60,000 support level; if that level is broken, Bitcoin could move toward the realized price area around $53,000. At these inflow levels, the market is absorbing a large amount of Bitcoin being redirected back to exchanges, and historically this pattern has often preceded significant directional moves.”

Not only is the number of deposits increasing, but the size of individual deposits is also growing. The report said that during this period, the average size of a single Bitcoin deposit roughly doubled from about 1 BTC to 2 BTC. This suggests that the current surge in deposits is more likely being driven by whales and institutions rather than retail traders.

Judging by historical performance, this indicator has often preceded price declines.

The report noted: “Based on historical experience, a surge in the average deposit size from large-volume participants is generally more bearish than a rise in inflow volume alone, because it indicates intentional position adjustments rather than routine fund transfers.”

It’s not just Bitcoin that’s affected. Ethereum’s daily inflow peak reached 1.25 million ETH per day, and deposit transaction counts for other altcoins also rose significantly, exceeding 45,000 transactions per day. These synchronized peaks further support the view that the crypto market is about to enter a period of higher volatility.

The report also wrote: “Historically, a surge in altcoin deposit transactions often signals that crypto asset prices have reached a turning point and foreshadows rising volatility ahead. This signal already played out with precision once in 2026: before Bitcoin fell from $82,000 in early May to below $58,000 in late June, there was a similar signal of altcoin deposit transactions breaking above 45,000.”

After breaking below $60,000, Bitcoin has rebounded this week, rising about 3.5%, with the latest trading price around $62,886. Even so, BTC is still down by slightly more than 50% from its historical high of $126,080 set in October 2026.

Meanwhile, Ethereum is up nearly 12% this week, to about $1,787, but it remains about 64% below its historical high of $4,946.