Bitcoin (BTC) edging ever closer to $9,000 support may lead to a major sell-off by exchange users, one analyst warns.

According to data from on-chain analytics resource CryptoQuant, inflows of BTC to exchanges spiked on July 15.

Kraken posts unusual $38.5M daily BTC inflows

When traders return Bitcoin to exchanges from a private BTC wallet, it suggests they have a desire to trade or sell at short notice.

The opposite is also true — as Cointelegraph reported, exchange balances witnessed a…

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