Within an hour, 5,498.25 BTC (77.75 billion won) were deposited into various spot exchanges, according to CryptoQuant. Large deposits into exchanges that support custody may indicate deposits from custody clients. The majority of the inflows were seen on Coinbase Prime (95%), followed by Coinbase Advanced (2%) and Gemini (1%). This surge in BTC inflows suggests increased buying pressure and bullish sentiment in the market. Traders closely monitor exchange inflows and outflows to gauge market sentiment and identify potential trading opportunities. A rise in inflows typically indicates that investors are moving their coins to exchanges to sell, while an increase in outflows suggests they are withdrawing their coins to store them in private wallets. In this case, the significant inflows into spot exchanges signal that investors are confident in the near-term price prospects of Bitcoin and are looking to accumulate more coins. This bullish sentiment could further support the ongoing rally in the cryptocurrency market.

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