Bitcoin Exchange Outflows Suggest Market Is In Full Accumulation Mode
Since bitcoin fell below $20,000, investors across all spheres have been taking this as an opportunity to fill up their bags. This accumulation trend was not readily apparent at first given the high volatility that was triggered by the FOMC meeting. However, now that the market has settled into somewhat of a normal range, the […]
Related News
Bitcoin exchange outflows have been turning for the better recently. What had predicated this was a long week of inflows surpassing outflows, solidifying the fact that it was a seller’s market. However, the tide has begun to turn as the Monday numbers are in. Bitcoin exchange outflows have now surpassed inflows by a large margin. Investors Are Accumulating Glassnode has published exchange inflow and outflow data which points toward an accumulation trend among investors. For the start of the week, the inflows into centralized exchanges had touched $1.1 billion, a high number. But the....
On-chain data shows a sharp spike in the Bitcoin exchange outflows, suggesting whales have been buying the dip to $39k. Bitcoin Exchange Outflows Show High Value Suggesting Whale Activity As pointed out by an analyst in a CryptoQuant post, the BTC exchange outflows have registered a large spike recently. The “exchange outflows” is an indicator that measures the total amount of Bitcoin currently exiting wallets of all exchanges. When the value of this indicator is high, it means investors are withdrawing a large amount of coins at the moment. Especially large values can imply....
Bitcoin’s stint above $40,000 continues as the market ushers in another week of trading. The weekend had been a rollercoaster for investors but prices have since started to level out. With the break above $40,000 last week, faith has gradually returned to the market, causing more people to invest in the digital asset. Amid this has emerged an accumulation pattern that suggests a bullish outlook for the long-term. Exchange Outflows Rise Over the past week, bitcoin exchange outflows have been on the rise. This is marked by the recovery of the digital asset’s value above the $40,000 level.....
Bitcoin accumulation patterns continue to point to the fact that the recent rally might not be ending anytime soon. Investors have continued to hoard assets as the volume of bitcoins sent to exchanges to be sold off or traded falls below the accumulation rate. Outflows from exchanges have continued to exceed inflows into exchanges. Signaling accumulation patterns rather than sell patterns. Related Reading | On-Chain Expert Predicts $162K Bitcoin Peak This Cycle Wednesday saw the price of bitcoin dropping below $38,000 to be trading in the $37,000 range. Inflows of 11.3K BTC to....
Surging BTC outflows from centralized exchanges suggest the Bitcoin markets could be in an accumulation. The number of Bitcoin held on centralized exchanges has consistently fallen since late May, with roughly 2,000 BTC (worth roughly $66 million at current prices) flowing out of exchanges daily.Glassnode’s July 12 Week On-Chain report found that Bitcoin reserves on centralized exchanges have fallen back to levels not seen since April, the month that saw BTC blast to its all-time high of roughly $65,000.The researchers noted that during the bull run leading up to this peak, relentless....