Cryptocurrency Prices today, Charts And Market Capitalizations |Ty gia Coin logo Cryptocurrency Prices today, Charts And Market Capitalizations |Ty gia Coin logo
NewsBTC 2021-12-24 19:00:47

Bitcoin Breaks $51k Again As 20k BTC Flows Out Of Exchanges

As Bitcoin once again breaks past the $51k mark, on-chain data suggests more than 20k BTC exited exchanges before this price move. Bitcoin Netflows Say Around 20k BTC Flowed Out Of All Exchanges Yesterday As pointed out by a CryptoQuant post, netflows amounted to 20k BTC exiting exchanges yesterday, the largest spike since September. The “all exchanges netflow” is an on-chain indicator that measures the net amount of Bitcoin going into or out of wallets of all exchanges. The metric’s value is calculated by simply taking the difference between the inflows and the outflows. When the indicator assumes positive values, it means the inflows are currently overwhelming the outflows, and a net amount of coins is entering exchange wallets. Investors usually send their crypto to exchanges for withdrawing to fiat or for purchasing altcoins. So, if such netflows persist, the outcome could be bearish for the price of BTC. On the other hand, negative netflows appear when more Bitcoin is entering exchanges than the amount going out. Prolonged downward spikes of the indicator can be bullish for the crypto as they may mean holders are in a state of accumulation. Related Reading | Growth Of Bitcoin ETFs & Other Instruments Doesn’t Support Supply Shock Narrative Now, here is a chart that shows the trend in the BTC netflows over the past year: Looks like the indicator has showed negative values recently | Sou...

Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.