Bitcoin exchange inflows tilt to whales as 100–1,000 BTC band hits 80% in March

Bitcoin exchange inflows are being increasingly led by large holders, with transfers in the 100–1,000 BTC range reaching up to 80% of inflows at March peaks. The Exchange Whale Ratio has also moved above its historical smoothed averages, raising the market's exposure to sell-side pressure. The setup suggests rallies may face heavier supply absorption requirements than in periods dominated by smaller flows.