👀 Bitcoin rallies, then retail deposits spike on @Gate Bitcoin climbed from ~$64,000 to $80,000, and retail inflows to Gate picked up soon after the price increase. Between August 23 and 30, there were more than 11 large spikes in retail deposit volume. On August 29, hourly deposits hit $11.33M, the highest level recorded this year. The first explanation is pretty straightforward: profit-taking. Bitcoin runs higher, traders send coins to an exchange, and some of that supply is likely getting ready to sell. But exchange inflows aren't as simple as they used to be. @Gate now gives traders access to crypto, stocks and commodities. So those deposits don't necessarily translate directly into BTC sell pressure. Some traders may be cashing out, while others could simply be moving capital around or getting ready to trade somewhere else.(Maartunn)