Bitcoin Exchange Inflow Mean Spikes, Indicating Bearish Trend

By Lola Coin Jun 26, 202357Views

, ,

Bitcoin’s “exchange inflow mean” has seen a recent spike in on-chain data, indicating a potential bearish trend for the cryptocurrency. This metric measures the average amount of Bitcoin being deposited into centralized exchange wallets. Unlike the “exchange inflow” metric, which can be skewed by large transactions from whales, the exchange inflow mean provides a better representation of average investor behavior. The recent spike suggests that the average investor has been depositing a high number of coins for selling purposes. However, Bitcoin has not shown any bearish effects from this spike so far, indicating sufficient buying pressure in the market. It is possible that the spike is a precursor to selling, or it could be a sign of pending selling in the near future. Currently, Bitcoin is trading at around $30,300, with a 14% increase in the last week.

Continue reading on Bitcoinist.com

Read Disclaimer

This content is aimed at sharing knowledge, it's not a direct proposal to transact, nor a prompt to engage in offers. Lolacoin.org doesn't provide expert advice regarding finance, tax, or legal matters. Caveat emptor applies when you utilize any products, services, or materials described in this post. In every interpretation of the law, either directly or by virtue of any negligence, neither our team nor the poster bears responsibility for any detriment or loss resulting. Dive into the details on Critical Disclaimers and Risk Disclosures.