Whales Move 49,000 BTC to Exchanges, $60k Bitcoin Test

On June 30 roughly 49,000 bitcoins were deposited to trading platforms, one of the largest single-day exchange inflows recorded this year. The average deposit size rose from about 1 BTC to roughly 2 BTC, indicating the activity was led by larger holders rather than many small retail transfers.

Moving coins to exchanges increases the supply available to trade. Investors also move coins to exchanges to rebalance holdings, post collateral or prepare for derivatives trades.

Price action earlier in the week showed Bitcoin falling below $58,000 to a new low for the selloff, then trading near $61,500 at the time of reporting. On the daily chart the price fell below the neckline of a head-and-shoulders formation. Market participants identified the $65,000 area as the next major level of interest.

Derivatives metrics recorded a sharp change during the rebound. Net taker volume, an eight-hour-smoothed measure of aggressive buying minus selling, moved from about -$61 million as prices slid toward $58,300 to about +$68 million during the rise toward $64,000. Twenty-four-hour changes in Bitcoin futures open interest flipped from a gain near 26,000 BTC at the start of July 1 to a decline around 23,000 BTC by the morning of July 2. Total open interest fell from near 368,000 BTC into a range between 342,000 and 346,000 BTC.

Stablecoin liquidity showed reduced inflows. A Binance-linked USDT refresh rate Z-score stood near -1.81. Data for the second quarter showed a contraction in the broader stablecoin market, reducing a common source of dollar-denominated buying power on exchanges and on-chain.

Key facts: about 49,000 BTC were moved to exchanges on June 30; average exchange deposit size doubled to roughly 2 BTC; Bitcoin traded near $61,500 after dropping below $58,000 earlier in the week; the daily chart recorded a break under a head-and-shoulders neckline; net taker volume swung from about -$61 million to +$68 million; open interest fell from roughly 368,000 BTC to the 342,000–346,000 BTC range; a Binance-linked USDT refresh rate Z-score was near -1.81 and the stablecoin market contracted in Q2. Traders are monitoring the $65,000 region and realized price levels near $53,000 remain referenced by some participants.