A CryptoQuant contributor known as IT Tech highlighted a rise in bitcoin reserves on centralized exchanges—approximately 20,000 BTC in recent days.
According to him, a potential trend shift indicates a change in sentiment and the intention of market participants to actively engage in trading.
“If reserves and net inflows continue to rise, we may face increased volatility and potential pressure on the bitcoin price in the near future,” the expert noted.
He advised investors to keep monitoring exchange activity and be prepared for heightened price fluctuations.
At the time of writing, bitcoin is trading around $94,460. Over the past 24 hours, the asset has decreased by 2.1%, according to CoinGecko.
Earlier, on-chain analyst Yonsei_dent explained who was actively selling digital gold in November-December.