Inflows to exchanges from funds and traders usually imply an intention to sell, as large token holdings are usually stored in cold (or offline) wallets.

The crypto market surged on Wednesday, with Bitcoin reaching $92,793 before settling at $92,464, marking a 6.28% gain in 24 hours. Ethereum rose 5.5% to $2,294, while Cardano, Solana, and Dogecoin saw gains of up to 8%.

Trump announced that the US government would create a strategic crypto reserve with 5 currencies. In particular, he mentioned that BTC and ETH would “obviously” be at the “heart of the Reserve.” The President also added that he loves Ethereum and Bitcoin.