CryptoQuant: Bitcoin, Ethereum, and Altcoin Exchange Deposits Surge, Market Volatility May Intensify

CoinFeed reported on July 4th, according to The Block, CryptoQuant stated that deposits of Bitcoin, Ethereum, and altcoins on exchanges have surged, a pattern that historically signals periods of heightened volatility in the crypto market. Julio Moreno, head of research at CryptoQuant, pointed out in a report that Bitcoin deposits on exchanges climbed to nearly 49,000 BTC on June 30, a rare extreme this year, with only four previous instances where single-day deposits approached 50,000 BTC. He stated that previous spikes of such magnitude were followed by sharp intensification in price volatility and directional movements. CryptoQuant also noted that deposit volumes for ETH and altcoins on exchanges are increasing, indicating that the crypto market faces greater pressure.