Bitcoin Bullish Signal: $900 Million In BTC Leaves Exchanges
On-chain data shows the exchanges have witnessed net Bitcoin outflows through the latest volatility, a sign that could be positive for BTC’s price. Bitcoin Exchange Netflow Has Been Negative Recently According to data from the market intelligence platform IntoTheBlock, Bitcoin has been leaving exchanges recently. The on-chain metric of relevance here is the “Exchange Netflow,” which measures the net amount of BTC entering into or exiting out of the wallets associated with all centralized exchanges. When the value of the indicator is positive, it means the investors are....
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The recent surge in the Bitcoin price was preceded by a significant amount of BTC leaving centralized exchanges. Over the past week, investors took to exchanges to remove their BTC holdings, supposedly for safekeeping in private wallets. 30,000 BTC Leaves Exchanges On October 18, crypto analyst Ali Charts revealed that more than 30,000 BTC had […]
On-chain data shows exchanges have seen a massive amount of Bitcoin outflows during the past day, a sign that could be bullish for BTC’s price. Bitcoin Exchange Netflow Has Just Seen A Large Negative Spike In a new post on X, the market intelligence platform IntoTheBlock has talked about the latest trend in the Bitcoin […]
The Bitcoin price is currently in an uncertain situation. After BTC broke below the one-month trading range between $29.800 and $31.500, the bulls have so far failed to recapture this area. A first attempt failed on Wednesday at $29.725, a second effort on Thursday at $29.600. On the other hand, the bears currently also fail to push the price below the critical support at $29.000. In which direction the next movement will go is, as always, pure speculation, but data can give indications. Bullish Signal 1: Decreasing BTC Supply On Exchanges Renowned crypto analyst Ali Martinez shared an....
The community analyst at the on-chain analytics firm CryptoQuant has pointed out how this Bitcoin indicator has been aligning with price tops. Bitcoin Binance Whale To Exchange Flow Shows An Interesting Pattern In a new post on X, CryptoQuant community analyst Maartunn has talked about the trend in the Bitcoin Exchange Whale Inflow for the cryptocurrency exchange Binance. The “Exchange Whale Inflow” here refers to an on-chain metric that measures the total amount of the asset that the whale entities are transferring to a given centralized exchange. Related Reading: Bitcoin....
Bitcoin balances on major exchanges have hit their lowest point since November 2018. Yet unlike that time, it may be a positive signal.