Analyst: The market absorbed 220,000 BTC last week, with net outflows from exchanges indicating buyer dominance
According to Odaily, CryptoQuant analyst Axel Adler stated that last week the market absorbed 220,374 BTC, while the net exchange flow remained negative at -3,863 BTC.
He pointed out that although the amount of Bitcoin flowing into exchanges was relatively high, the net outflow data indicates that market buy-side demand remains stronger than sell-side pressure, showing that some funds are absorbing the market supply.
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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