Bitcoin moved higher today after large exchange inflows totaling more than $4.8 billion were detected ahead of the U.S. market open. On-chain data show major exchanges and market makers accumulating tens of thousands of BTC, helping push Bitcoin toward the $69,000 level after it traded in the mid-$66,000 range earlier this week.
At the time of writing, Bitcoin was trading around $69,140, up roughly 3.5% over the past 24 hours, signaling renewed bullish momentum.
Exchanges Accumulate Over $4.8B Worth of Bitcoin
According to on-chain data shared by DeFiTracer, several major exchanges accumulated large amounts of Bitcoin over the weekend.
The largest accumulation came from Binance, which recorded inflows of 29,344 BTC, valued at approximately $1.91 billion. Coinbase Prime followed with 13,756 BTC worth about $917.82 million, while Kraken recorded 8,611 BTC inflows valued at approximately $558.07 million.
Additional inflows were also observed across other wallets. Binance cold wallets received 7,456 BTC worth roughly $486.08 million, while Wintermute Binance deposit wallets recorded 7,188 BTC valued at approximately $473.52 million.
Further inflows included Coinbase Prime deposit wallets receiving 4,248 BTC, worth $281.03 million, and Coinbase cold wallets receiving 3,786 BTC, worth $245.99 million.
In total, these inflows represent over 74,000 BTC, equivalent to more than $4.8 billion accumulated within a short time frame. The scale of these inflows has drawn attention from traders, as large exchange movements often precede major price moves.
Bitcoin Climbs Toward $69K Following Inflows
The BTC price reacted quickly following the acquisitions. The cryptocurrency climbed from the $66,600 range, where it traded last week and over the weekend following increased geopolitical tensions, to nearly $69,200 at the time of writing.
The move represents a notable reversal from recent weakness. Just last week, Bitcoin dropped following remarks from U.S. President Donald Trump regarding renewed military action against Iran. That announcement renewed risk-off sentiment toward Bitcoin and Ethereum, triggering broader market uncertainty.
Bitcoin fell roughly 3%-4%, trading near $66,600, while gold and silver recorded even steeper declines. However, the latest spate of exchange BTC acquisitions has helped reverse some of those losses.
Trading volume also increased by 74% during the move, suggesting growing market participation as Bitcoin approaches the $70,000 resistance level.
Iran Deal Speculation and Market Positioning
The inflows also come amid speculation that a potential U.S.-Iran agreement could emerge, potentially reducing geopolitical uncertainty. Traders often position ahead of such developments, particularly when macro risks begin to ease.
A favorable shift in geopolitical outlook now would support renewed risk appetite and bigger upside for digital assets. Institutional accumulation ahead of the U.S. market opening further supports that thesis.
Bitcoin is now approaching key technical levels following the rally. The $70,000 zone remains the next major resistance, while $71,000 represents the recent local high. On the downside, $67,000 now acts as short-term support, with $65,000 remaining a major psychological level below.
Temitope Olajide
The CoinRemark Team
Evans Kelvin
