The Bitcoin (BTC) exchange net inflows surged to the largest single-day in the past 30 days on April 27, fueled by whale investors.
On Monday, the net inflow of Bitcoin to cryptocurrency exchanges was more than 9,905 BTC, valued at more than $754.4 million at press time, according to data from CryptoQuant. Notably, the exchange whale ratio, which shows the share of exchange inflows dominated by the 10 largest deposits, jumped to the highest level in over a week of 0.707, suggesting large BTC holders dominated inflows, as per an update from CryptoQuant.
Bitcoin exchange inflows for 30 days. Source: CryptoQuant
As a result, the crypto exchanges’ holdings surged from 2.666 million BTC on April 25 to 2.677 million BTC by April 28. The spike in crypto exchange holdings coincided with the end of 9 consecutive days of cash inflows into spot Bitcoin exchange-traded funds (ETFs) on Monday.
After reporting a net inflow of more than $2.1 billion between April 14 and 24, the U.S. sp
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