PANews February 22 News, according to on-chain analysis firm CryptoQuant, the Bitcoin market is in the mid-stage of a bear market, with large Bitcoin holders dominating exchange deposit activity. Data shows that the exchange whale ratio (the proportion of the top ten depositors) has risen to 0.64, the highest level since October 2015, indicating that major holders are leading the selling activity. Meanwhile, the average single deposit amount on Bitcoin exchanges in February has increased to 1.58 BTC, the highest since June 2022, which was during the mid-phase of the previous bear market.
Despite this, CryptoQuant points out that the overall Bitcoin exchange deposit volume peaked at 60,000 BTC on February 6 and has since decreased to an average of about 23,000 BTC over seven days, suggesting a slowdown in the rapid sell-off phase. However, current exchange inflows remain higher than in previous months.
At the same time, stablecoin inflows have significantly declined. The daily net inflow of USDT dropped sharply from a high of $616 million in November 2025 to recent levels of $27 million, with a net outflow of $469 million on January 25, 2026. CryptoQuant notes that reduced or negative stablecoin inflows indicate diminishing marginal buying power in the market.
Additionally, altcoins are also facing widespread selling pressure, with the daily average deposit volume reaching approximately 49,000 transactions in 2026, up 22% from about 40,000 in Q4 2025. CryptoQuant believes that rising altcoin deposit volumes often signal weakening market confidence and may trigger greater volatility.
Overall, CryptoQuant states that selling pressure on Bitcoin is mainly concentrated among large holders, while altcoins are experiencing dispersed selling, and stablecoin outflows suggest limited market demand support. In the current bear market phase, these factors could intensify market volatility.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Pi Network Outperforms Bitcoin Year-to-Date as DEX Launch and CEX Listing Hopes Drive Catalysts
Pi Coin (PI) has declined 17% year-to-date through March 4, 2026, outperforming major cryptocurrencies including Bitcoin (down 23%), Ethereum (down 35%), XRP (down 27%), and Solana (down 33%) amid a series of network-specific catalysts.
CryptopulseElite20m ago
The US-Iran conflict impacts South Korea's financial markets... Exchange rates and stock markets suffer heavy losses
The Korean financial market continues to fluctuate due to the ongoing aftermath of the US-Iran war, with the Korean won against the US dollar breaking through 1,500 won, and the stock market plummeting below 5,400 points. Large-scale foreign capital sell-offs are impacting the market, and the Bank of Korea stated that it will monitor the situation and may take measures. Managing external risks is particularly important.
TechubNews20m ago
Middle East conflict impacts Asian stock markets, Bitcoin holds at $67,000, Ethereum and Solana come under pressure and retreat
Middle Eastern geopolitical tensions continue, and risk aversion in Asian financial markets intensifies, leading to significant declines in major stock indices. Bitcoin experiences a slight dip but remains within a key range, with market focus on institutional funding and ETF inflows. Mainstream cryptocurrencies like Ethereum and Solana pull back as risk appetite contracts. Uncertainty in the macro environment and volatility in the energy markets increase market pressure.
GateNews35m ago
AI Agent Test: "Bitcoin, USD" Choose One, 36 Models Overwhelmingly Prefer BTC: More Stable and Reliable than Fiat Currency
Research from the Bitcoin Policy Institute shows that among 36 AI models, 48.3% prefer Bitcoin, with no models choosing fiat currency. Bitcoin is favored for long-term value preservation, while stablecoins outperform Bitcoin in payment scenarios. The study also acknowledges methodological limitations, and AI preferences do not necessarily reflect actual adoption.
動區BlockTempo42m ago
Yesterday, US Bitcoin spot ETF saw a net inflow of $225 million, while Ethereum ETF experienced a net outflow of $10.8 million.
On March 4th, the US Bitcoin spot ETF saw a net inflow of $225.2 million, with BlackRock's IBIT experiencing the largest inflow and Fidelity's FBTC experiencing significant outflows; the Ethereum spot ETF had a net outflow of $10.8 million, with Fidelity's FETH experiencing the largest outflow.
GateNews1h ago
AI Agents Prefer Bitcoin Over Fiat, New Study Finds
A Bitcoin Policy Institute study delves into how artificial intelligence models choose among money forms in a variety of hypothetical scenarios, revealing a strong inclination toward Bitcoin and digital money over fiat in most cases. The research tested 36 models across six providers and generated m
CryptoBreaking1h ago
