According to CryptoQuant, Bitcoin’s push toward $76,000 has encountered a critical bear market resistance level, with the Traders’ Realized Price sitting near $76,800. Exchange inflows spiked to 11,000 BTC, the highest reading since December, while large deposits exceeding 1,000 BTC jumped from under 10% to over 40% of total inflows within days. The pattern suggests institutional distribution rather than accumulation, with average deposit size climbing to 2.25 BTC, the highest daily reading since July 2024.
Bitcoin has declined approximately 40% from its cycle high near $126,000. ETF flows turned negative in Q4 2025, dolphin wallets reduced positions, and funding rates hit December 2023 lows, indicating a bear market backdrop persists despite recent technical strength.