According to CryptoQuant analyst Axel Adler on July 29, Bitcoin traded near $64,000 amid weakening prices, but on-chain data showed exchange inflows remained neutral with no clear selling pressure.
Bitcoin's 30-day exchange inflows totaled approximately 60,000 BTC, about 24% below the one-year average and near historical lows. Exchange netflow stood at approximately -1,300 BTC, near zero, indicating balanced inflows and outflows with neither significant fund accumulation nor major withdrawal-driven liquidity contraction.