Analyst: 30-Day Moving Average Trading Platform Inflow/Outflow Ratio Shows Continued Increase in Bitcoin Demand
CryptoQuant analyst Darkfost has published a chart analysis showing that the 30-day moving average (30DMA) trading platform inflow/outflow ratio shows that demand for bitcoin remains high, despite the fact that the price is trading in a wide range of $90,000 to $105,000, according to the analyst. When the ratio falls below 1, it indicates that outflows are outpacing inflows, which is generally seen as a bullish signal by professional investors. Essentially, the lower the ratio, the stronger the underlying demand. Historically, when the ratio enters a high-demand zone, Bitcoin typically experiences a short-term rally. However, it is worth noting that some of these outflows could be attributed to regular asset transfers from centralised exchanges to custodian wallets (ETFs, institutions, OTC counters). (Cryptoquant)
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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