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NewsBTC 2021-12-28 19:00:12

Bitcoin Bearish Signal: Trend Is Again Shifting From Outflows To Inflows

On-chain data shows Bitcoin netflow trend is once again shifting from outflows to inflows, a sign that could prove to be bearish for the crypto. Bitcoin Netflow Trend Is Changing To Inflows From Outflows As per the latest weekly report from Glassnode, BTC netflows have once again started to move from a trend of net outflows to more inflows. The “all exchanges netflow” is an indicator that measures the net amount of Bitcoin entering or exiting wallets of all exchanges. The metric’s value is calculated by simply taking the difference between the inflows and the outflows. When the indicator has negative values, it means outflows are overwhelming inflows as a net amount of BTC is being transferred out of exchanges. Investors usually withdraw their coins from exchanges for accumulation purposes. And so, such a trend can be bullish for the crypto. On the other hand, positive netflow values signify that a net amount of Bitcoin is being deposited into exchange wallets. Since holders generally move their crypto to exchanges for withdrawing to fiat or for purchasing altcoins with them, such values of the indicator may be bearish for the coin. Now, here is a chart that shows the trend in the BTC netflow over the course of 2021: Looks like BTC inflows are on the rise | Source: The Glassnode Week Onchain (Week 52) As you can see in the above graph, the netflows have been oscillating between the +5k BTC and -5k BTC li...

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Bitcoin Bearish Signal: Trend Is Again Shifting From Outflows To Inflows

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