Bitcoin exchange inflows see biggest one-day spike since March 2020
236,000 BTC enters trading platforms in a single day amid what one commentator calls "unusual" exchange flows. Bitcoin (BTC) exchanges have seen huge volumes this month as price declines lead to renewed interest in trading.Data from sources including on-chain analytics firm Glassnode shows exchange inflows hitting their highest since March 2020."The scent of volatility is in the air"On Sept. 14, over 236,000 BTC made its way to the 1 major exchanges tracked by Glassnode.This was the largest single-day spike since the chaos that surrounded Bitcoin’s dip to just $3,600 in March 2020.Bitcoin....
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On-chain analysis shows that crypto exchange Gemini observed huge Bitcoin inflows just before the plunge down to $38k. Huge Bitcoin Inflows To Gemini As pointed out by a CryptoQuant post, crypto exchange Gemini saw huge inflows earlier today resulting in a positive spike in the netflows. Before examining the data, here are some quick definitions for the relevant terms. The exchange inflow is the amount of BTC sent from personal wallets to the exchange platform. Similarly, the outflow is the BTC that was transferred out of exchanges to personal wallets. The netflow is just the difference....
Bitcoin saw a real test of its market composition on Thursday amid a sea of liquidations reminiscent of the events from last year. Bitcoin (BTC) has performed "very well" as traders send more coins to exchanges than at any time since the March 2020 crash.Data from on-chain monitoring resources CryptoQuant and Glassnode shows that BTC exchange inflows hit a one-year high on May 13.Nearly 30,000 BTC hits exchangesBitcoin saw intense pressure from sellers this week as multiple news triggers combined to turn many bearish.Tesla abandoning BTC payments, followed by rumors of an investigation of....
There have been more outflows than inflows to most exchanges except Binance, FTX, Bittrex, and Bitfinex since last July, suggesting sellers may be exhausted according to Glassnode. Bitcoin inflows across all exchanges have been net negative since last July, but four major exchanges have been running contrary to this trend with nearly an equal amount of net positive inflows.There have been total net outflows of 46,000 BTC (worth around $1.8 billion at current prices) from all crypto exchanges since last July.Only Binance, Bittrex, Bitfinex, and FTX have seen net positive inflows of 207,000....
The likelihood of another steep selloff for BTC is diminishing as more holders are accumulating, according to data from Santiment. The amount of Bitcoin (BTC) held on exchanges has been declining steadily since mid-May, offering reassurance that the worst of the market selloff has passed. At current levels, Bitcoin’s exchange supply is at its lowest level since early January, according to crypto analytics firm Santiment. “The 6-month low is a promising sign, as it generally will indicate that there is a decreased risk of more major $BTC selloffs,” the analytics firm tweeted Monday morning.....
On-chain data suggests the Bitcoin exchange inflows shot up recently, suggesting selling on exchanges may be behind the latest drop in the crypto’s price below $22k. Bitcoin All Exchanges Inflow Has Observed A Large Value In Recent Days As pointed out by a CryptoQuant post, whales with 1k to 10k BTC moved a significant number […]