Bitcoin Exchange Inflows Increased 4.4 Times to 5,442 BTC on September 8

On September 8, the total of the top 10 Bitcoin inflows to spot exchanges reached 5,442 BTC. While this amount was 4.4 times higher than the previous day, it remained only 5.1% above the 30-day average. The seven-day average of inflows over the past week was 4,678 BTC, which is below the peaks seen in earlier periods of the year. CryptoQuant analyst Woominkyu noted that the recovery in Bitcoin prices was not accompanied by unusually large exchange transfers. The increase on September 8 represents a return to normal levels rather than an abnormal influx of capital. Additionally, the Central Bank of Iran is encouraging businesses to bring their overseas earnings back to the country using Bitcoin and Tether to ensure trade continues under tightening U.S. sanctions. Iranian officials estimate that undisclosed earnings of businesses exceed $100 billion. With the new application, businesses can convert their foreign currency at market rates and use their export revenues without passing through the official system.

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