Analyst: Net Outflows from Bitcoin Exchanges Continue, Historical Data Suggests a Short-Term Rise
Feb. 17 (Bloomberg) -- CryptoQuant analyst Darkfost's analysis shows that while the bitcoin price is oscillating in the $90,000 to $105,000 range, the 30-day moving average (30DMA) shows a persistent net outflow from exchanges, suggesting that the trend of accumulation is continuing. The study notes that when the inflow/outflow ratio on exchanges is below 1, it means that net outflows are outpacing inflows, which is seen as a bullish signal by professional investors. Historical data shows that when the ratio enters a ‘high-demand zone,’ Bitcoin tends to see short-term gains. Analysts also cautioned that some of the outflows may be the result of regular asset transfers from centralised exchanges to custodian wallets such as ETFs, institutional investors and over-the-counter trading platforms.
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.
You may also like
Besent “Extinguishes Fire”: Rising US Treasury yields are a global phenomenon, dismisses concerns over AI bubble
U.S. Treasury Secretary Janet Yellen defended the rise in U.S. Treasury yields, stating that this increase is a global phenomenon rather than unique to the United States, and does not warrant excessive concern. She partially attributed inflationary pressures to higher oil prices caused by the Iran conflict, and expects the energy shock to subside as hostilities ease. Yellen refuted the notion of an AI bubble, arguing that investments by major tech companies are grounded in solid business logic.
Crypto prices
More
