Source: Cointelegraph Original: "{title}"

Latest analysis shows that Bitcoin is facing a new "consolidation range" as exchange inflows hit a multi-year low. Axel Adler Jr., a writer for the on-chain analysis platform CryptoQuant, pointed out on April 1 via the X platform that the selling pressure for Bitcoin has "dried up."

Average daily inflows to exchanges have decreased by 64% since last November.

Data shows that since Bitcoin first broke the $100,000 mark at the end of 2024, selling pressure has significantly eased. Adler found that the 7-day average total sell-off on major exchanges has sharply declined by analyzing Bitcoin inflows.

"The average daily sell pressure on top exchanges has dropped from 81,000 Bitcoins to 29,000," he summarized next to a CryptoQuant chart, "Welcome to the demand asymmetry range."

Bitcoin 7-day average exchange inflow. Source: Axel Adler Jr./X

In the week of March 23, the 7-day average exchange inflow for Bitcoin hit its lowest level since May 2023 (when the BTC/USD trading price was below $30,000). Given that the current price is nearly three times that level, Adler believes that a correction in the Bitcoin bull market of 2025 may be on the horizon.

"The market has successfully digested multiple rounds of profit-taking after breaking the $100,000 mark," he summarized, "Selling pressure has dried up, and buyers are calm about the current price level—this lays the groundwork for a structural supply shortage. A consolidation range may form in April-May, serving as a calm period before the next wave of market activity."

Binance inflows suggest a "neutral stance."

As Cointelegraph previously reported, market sentiment has begun to align with price realities. The "Coinbase Premium Index," a barometer of demand for U.S. exchanges, has gradually moved away from negative territory back to neutral levels, although it has not accompanied the price rebound.

However, short-term analysis shows that exchange inflows have rebounded this week—but global exchange Binance has been an exception. Joao Wedson, founder and CEO of the data analysis platform Alphractal, pointed out in a CryptoQuant "quick comment" blog: "The Bitcoin inflow from short-term holders to Binance has significantly decreased (only 6,300), far below the average level of 24,700 from other exchanges. This indicates that the sell pressure on Binance is low, and traders may generally be shifting to a more neutral stance."

Bitcoin inflow situation of short-term holders to Binance compared to other exchanges (screenshot). Source: CryptoQuant

Related: Losses from cryptocurrency vulnerabilities and scams surged in February but fell to $28.8 million in March.

This article does not contain investment opinions or advice. Every investment and trading activity involves risks, and readers should conduct their own research before making decisions.

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