The worth of Bitcoin has been caught in a consolidation vary under $70,000 up to now this week, after spending many of the earlier weekend above it. Whereas the flagship cryptocurrency’s value motion has been largely — and painfully — sideways in latest weeks, this represents a notable enchancment from how the month of February began.
The brand new month ushered in a contemporary low simply above the $61,000 stage for Bitcoin, confirming the beginning of the bear market. Amidst the relative stability in latest weeks, a latest on-chain analysis means that BTC and the broader cryptocurrency mark remains to be liable to additional draw back volatility.
BTC’s Future In The Arms Of Giant Traders: CryptoQuant
Within the final bull cycle, the worth motion of Bitcoin was closely influenced and impacted by the elevated inflow and exercise of institutional buyers (primarily by means of the spot exchange-traded funds). Equally, it seems that the big investor cohort will nonetheless be on the wheel even in the course of the bear market.
Based on CryptoQuant’s newest market report, the Bitcoin change inflows — and the instant promoting strain — have normalized because the capitulation spike in early February. This pattern might be seen within the decline in change inflows from round 60,000 BTC initially of the month to round 23,000 BTC now.
Whereas the acute sell-off part seems to be easing off, a troubling pattern appears to be brewing amongst Bitcoin’s largest buyers. In its market report, CryptoQuant highlighted that the BTC change whale ratio has climbed to 0.64, its highest stage since 2015, suggesting that whale inflows account for a good portion of the change deposits being seen.
Supply: CryptoQuant
In the meantime, the common BTC deposit dimension has additionally reached a stage not seen since mid-2022, in the course of the warmth of the final bear market. This pattern additional reinforces the concept institutional or massive buyers are behind the growing change provide.
CryptoQuant famous that the altcoin market remains to be dealing with elevated distribution strain, with the common every day variety of altcoin change deposits rising from 40,000 in This fall 2025 to 49,000 in 2026. This steady capital rotation out of riskier property displays weakened market confidence and will increase the danger of draw back volatility.
![[20 February 2026] Exchange Flow Redistribution: Whale Deposit Activity Grows Amid Declining Stablecoin Inflows](https://i0.wp.com/bucket.cryptoquant.com/research/vhKU3eAo_f9d6c7c031686bfd623832b4a9af0d3e55ed890a23e747cab76d866905521427.png?ssl=1)
Supply: CryptoQuant
In the meantime, the continued move of stablecoins out of exchanges factors to a decline in marginal shopping for energy (or “dry powder”) within the Bitcoin market. Based on CryptoQuant knowledge, net USDT flows into exchanges have fallen sharply from a one-year excessive of $616M in November 2025 to solely $27M, turning destructive at instances (-$469M in late January).
Finally, the mix of the elevated promoting strain from Bitcoin’s massive holders, rising altcoin distribution, and constant stablecoin outflows means that the crypto market construction stays liable to additional draw back volatility.
Bitcoin Worth At A Look
As of this writing, the worth of Bitcoin stands at round $67,580, reflecting a light 1% enhance prior to now 24 hours.
The worth of BTC on the every day timeframe | Supply: BTCUSDT chart on TradingView
Featured picture from iStock, chart from TradingView
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