A net 7,340 BTC moved onto exchanges on Friday, the most since June

On Friday 23 October, a net 7,340 BTC moved onto the exchanges we track, the biggest day since 2 June (+9,609 BTC) on our Exchange Netflow Volume chart (Plus). Coins usually go to an exchange to be sold or posted as collateral, so that's a lot of ready supply parked on top of the price. On Saturday afternoon, bitcoin slipped under $80,000.

Who sent them

Not a crowd. The number of deposits was ordinary, but the average deposit was 5.8 BTC, against 3.4 BTC over the past month.

The ten largest deposits made up 43% of all the bitcoin sent in, on our free Exchange Whale Ratio. Over the past month that share averaged 29%. Two were giants: about 2,000 BTC into Binance and about 2,000 BTC into Deribit, both on Friday morning UTC. Our Whale Deposits to Exchanges chart (Pro), which counts single deposits of 1,000 BTC or more, logged about 4,000 BTC for the day, against a daily average of about 640 BTC over the past month. Our free Largest Exchange Deposit chart shows the 2,000 BTC top.

Take those two out and Friday's net inflow drops to about 3,300 BTC, which three days in the past month beat. A couple of big senders made the record, not a rush for the exit.

Deribit is mostly an options and futures venue, so coins sent there are more often margin than spot supply. The Binance deposit is the likelier sale.

Withdrawals dried up

The other half is what didn't leave. Deposits of 13,177 BTC were about 68% above their 30-day average of 7,856 BTC: high, but 28 September and 7 October saw more. Withdrawals made the jump. Only 5,837 BTC came out, about 30% below the 8,388 BTC average and the least on any weekday since 2 September. The buyers who usually pull coins into their own wallets stepped back just as the big senders stepped up. Both sides are on our Exchange Inflow Volume and Exchange Outflow Volume charts (Plus).

Friday in numbers

The averages cover 23 September to 22 October; counts and sizes are on our Exchange Deposits and Exchange Inflow Volume (Mean) charts (Plus). The exchanges we cover ended Friday holding 1,124,573 BTC, up from 1,117,233 BTC on Thursday, on our Exchange Balance chart. The full chart is free with an account.

What happened next

On Saturday, after a quiet morning between about $80,400 and $81,100, BTC broke below $80,000 in the 14:00 UTC hour and touched $79,197 the next, the day's low on our Price OHLC chart (Pro). It was a long flush: $121 million of longs were liquidated in those two hours on the eight futures venues we collect, against about $3 million of shorts, on our Futures Liquidations chart (Plus).

The drop didn't bring a second wave of deposits. Over those same two hours, a net 400 BTC left the exchanges. By 20:00 UTC, Saturday's net flow was an ordinary +774 BTC. BTC was back above $80,000 by 17:00 UTC and near $80,500 at 20:00 UTC.

The last five times

In the year before Friday, net inflow hit 7,340 BTC or more on seven days, in five bursts. Here is BTC 30 days after the first day of each:

Four of the five were lower a month later (one only just); across all days that year, BTC was lower 30 days later 46% of the time. Five cases is a small sample, so read it as a lean, not a law. The latest one hurt: after 2 June, BTC closed June at $58,532, its lowest close of 2026. Prices are daily closes from our free Price chart.

What to watch

• Whether the coins leave again. If withdrawals climb back toward their 8,388 BTC average and the net flow turns negative, Friday was parking, not selling.
• The whale share. It was 24% on Saturday up to 20:00 UTC. Another day above 40% would say the big senders aren't done.
• $80,000 on a daily close. BTC hasn't closed a UTC day below it since 17 September.

How we measure it

The exchange flows come from our own Bitcoin node. We cover the exchanges that publish their reserve addresses (Binance, Bitfinex, BitMEX, Bybit, Crypto.com, Deribit, HTX, KuCoin and OKX), plus addresses our clustering ties to them. Coinbase and Kraken publish none, so they aren't included, and nor are the spot ETFs' custody wallets; our free ETF flows page covers the funds. A deposit counts when it reaches an exchange's labelled wallets: where an exchange first collects coins at deposit addresses we haven't identified, we see its sweep into those wallets. Intraday prices and liquidations come from exchanges' public feeds, collected by us. Daily rows close at 00:00 UTC: Friday's figures are final, and Saturday's are partial and update hourly. Our exchange balance guide explains how to read them, and the exchanges page splits them by venue.