Bitcoin’s on-exchange reserves rose into Feb 5 even as BTC price sharply fell to a weekly low, signaling increased sell-side availability. From Feb 2–8, BTC price slid roughly 10.66%, with reserves peaking on Feb 5 and ending slightly lower overall. Netflows flipped repeatedly, with the biggest inflows on Feb 4 and 5 and the largest outflow occurring on Feb 6 during the price rebound. After Feb 5’s sharp decline, price rebounded about +12.31% on Feb 6 while reserves dropped significantly, indicating heavy net outflows. Over the week, netflow was negative, meaning more BTC left exchanges than entered — a potential signal of reduced sell pressure.

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