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NewsBTC 2021-10-19 19:00:37

Bitcoin On-Chain Data Shows Decrease In BTC Outflows, Crash Incoming?

Bitcoin on-chain data shows that the BTC outflows have been gradually heading downwards recently, hinting that a crash could be coming soon. On-Chain Data Shows BTC Outflows Continue To Decrease As pointed out by an Analyst on Twitter, on-chain data reveals Bitcoin outflows have been gradually going down in the past month. The relevant metric here is the BTC netflows. This indicator shows the net amount of coins exiting or entering exchange wallets. Its value is calculated by taking the difference between the inflows and the outflows. When the netflow shows negative values, it means outflows are dominating inflows. This means more Bitcoin is being pulled off exchanges than the amount being put in. Sustained such values have usually been bullish for the crypto. Positive values, on the other hand, would imply an increase in coins entering exchanges as inflows show more strength than outflows. This can be bearish for BTC’s price. Related Reading | Bitcoin Price Smashes Record For Highest Weekly Candle Close Ever Now, here is a chart that shows the trend in the value of the BTC netflows over the year: BTC's outflows seem to be decreasing | Source: Glassnode As the above graph shows, Bitcoin saw significant outflows over the last couple of months, but lately they have started slowing down. It seems that during the 2021 bull run, outflows were seen for much of the period. Once netflows started turning green (that is,...

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Bitcoin On-Chain Data Shows Decrease In BTC Outflows, Crash Incoming?

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