Home Fear & Greed Pools Wallets Dictionary Advertise Facebook Twitter Telegram Reddit Youtube
Market Cap:
24h Vol:
Cryptocurrencies: 12422
Markets: 95965
CoinInsight360.com logo CoinInsight360.com logo
ENG
EST
RUS
TUR
DEU
CHI
KOR
ITA
USD
USD
AED
AFN
ALL
AMD
ANG
AOA
ARS
AUD
AWG
AZN
BAM
BBD
BDT
BGN
BHD
BIF
BMD
BND
BOB
BRL
BTN
BWP
BYN
BZD
CAD
CDF
CHF
CLF
CLP
CNH
CNY
COP
CRC
CUC
CUP
CVE
CZK
DJF
DKK
DOP
DZD
EGP
ERN
ETB
EUR
FJD
FKP
GBP
GEL
GHS
GIP
GMD
GNF
GTQ
GYD
HKD
HNL
HRK
HTG
HUF
IDR
ILS
IMP
INR
ISK
JMD
JOD
JPY
KES
KGS
KHR
KMF
KPW
KRW
KWD
KYD
KZT
LAK
LBP
LKR
LRD
LSL
LYD
MAD
MDL
MGA
MKD
MMK
MNT
MOP
MRU
MUR
MVR
MWK
MXN
MYR
MZN
NAD
NGN
NIO
NOK
NPR
NZD
OMR
PAB
PEN
PGK
PHP
PKR
PLN
PYG
QAR
RON
RSD
RUB
RWF
SAR
SBD
SCR
SDG
SEK
SGD
SHP
SLL
SRD
SSP
STD
STN
SVC
SYP
SZL
THB
TJS
TMT
TND
TOP
TRY
TTD
TWD
TZS
UAH
UGX
UYU
UZS
VES
VND
VUV
WST
ZAR
ZMW
ZWL
A company that is changing the way the world mines bitcoin

WallStreet Forex Robot 3.0
Market Cap
24h Vol
12422
Cryptocurrencies
55.61%
Bitcoin Share
Crypto Potato 2024-12-31 16:03:26

Investors Are Moving Their BTC Away From Exchanges, What Does This Mean?

Investors Are Moving Their BTC Away From Exchanges, What Does This Mean?

Bitcoin (BTC) is consolidating between $94,000 and $92,000, but investors are moving their assets out of exchanges. The asset has plunged in the last two weeks and was hovering around $93,750 at the time of writing. Analysis by CryptoQuant official AxelAdlerJr revealed that crypto exchanges are recording very low levels of BTC deposits while investors are moving assets away from the platforms, possibly to their personal wallets. AxelAdlerJr said these trends suggest BTC could see robust price movements in the near term. Lower Daily BTC Deposits According to AxelAdlerJr, crypto exchanges have witnessed around 30,000 BTC daily deposits over the past few weeks, similar to record lows seen in 2016. In contrast, 10-year average daily deposits hover around 90,000 BTC, and this bull cycle’s peak sits at 125,000 BTC, especially when the asset hit the bullish mark of $66,000. The last time bitcoin’s daily deposit figures were at this low level was during the onset of its major rally. “When users send fewer coins to trading platforms, it typically suggests they prefer to keep their BTC in personal wallets rather than gearing up to sell,” stated AxelAdlerJr. A decrease in deposits on exchanges could lead to a shortage of BTC on the spot market, triggering positive price movements, per the laws of demand and supply. While low deposits do not guarantee a swift price upswing for BTC, they could create an environment that would trigger positive momentum. Traders Move BTC From Exchanges In addition to the plunge in daily BTC deposits on exchanges, traders are moving their bitcoins away from these trading platforms. AxelAdlerJr cited the Netflow-to-Reserve Ratio, a metric that monitors the relationship between net inflows and outflows to exchanges and their total reserves . When the Netflow-to-Reserve Ratio turns negative, it signals a dominance of outflows from exchanges, meaning BTC is being withdrawn. While the metric is currently negative, the CryptoQuant official noted that the most pronounced negative values were seen at the end of the bear market when traders bought BTC from forced sellers at roughly $17,000. “The drop in daily deposits to exchanges to a level not seen since 2016 suggests a large-scale trend of holding Bitcoin in personal wallets, while the Netflow-to-Reserve Ratio confirms a continued outflow of coins. Taken together, these signals set the stage for potentially more robust price movements in the future,” AxelAdlerJr added. The post Investors Are Moving Their BTC Away From Exchanges, What Does This Mean? appeared first on CryptoPotato .

Most Read News



Cryptohopper
hardware wallets, hardware , wallets, Crypto Currency, Cryptocurrency hardware wallets, Crypto Apparal, crypto wallet, Cryptocurrency wallets

Market Cap
24h Vol
55.61%
Bitcoin Share
0
Today News
Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.