$6 Billion BTC Buying Spree Hits Exchanges as Bitcoin Price Races toward $100,000
Massive $6 billion in BTC inflows into major exchanges coincided with Bitcoin's sharp price surge toward $100,000.Summary
Bitcoin experienced a sharp surge this week, moving from approximately $91,000 to over $95,000, accompanied by significant on-chain data showing a massive influx of BTC into exchange wallets. Analytics firm Arkham reported that Binance, Coinbase, Kraken, and Bitfinex received combined inflows totaling roughly $6 billion. While this fueled speculation about coordinated buying, Binance CEO CZ clarified that these deposits represented user purchases on exchange wallets, not internal exchange buys. This activity follows strong institutional demand, evidenced by Bitcoin ETF inflows reaching $753 million on Tuesday, with Fidelity's FBTC leading with $351 million. Analysts suggest this indicates strong participation from institutional and high-net-worth investors, reinforcing Bitcoin's push toward the $100,000 mark amid broader bullish sentiment and macroeconomic considerations.
(Source：BeInCrypto)