Bitcoin is showing signs of short-term selling pressure after climbing above $76,000, according to new market analysis from CryptoQuant. The firm reported a sharp increase in Bitcoin deposits to crypto exchanges on Tuesday, a trend commonly viewed as preparation for selling activity.
Hourly inflows surged to nearly 11,000 BTC, marking the highest level recorded since December. Analysts noted that the growing size and pace of these deposits historically serve as a warning signal that investors may be preparing to distribute holdings at major resistance levels.
The average deposit size also climbed to 2.25 BTC, the largest since July 2024. Similar patterns were observed earlier in January, when average deposits reached around 2 BTC before Bitcoin prices dropped sharply from $100,000 to $60,000.
Market data shows Bitcoin recently reached $76,052 , its highest level since early February. CryptoQuant analysts emphasized that Bitcoin’s realized price near $76,800 could act as a short-term ceiling, encouraging traders nearing breakeven to sell and limit additional gains.
Profit-Taking Still Developing but Risks Increasing
Despite rising deposits, analysts noted that profit-taking remains in early stages. Daily realized profits are currently around $500 million, still below the $1 billion level that has historically coincided with local market tops. However, if Bitcoin sustains levels above $76,000 or approaches the realized price threshold, profit-taking could accelerate, increasing the risk of a market pause or price reversal.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.