Bitcoin Daily Exchange Net Flows Indicate Continued Sell-Offs

July 12, 2022

Bitcoinjourney 59bb395bfc544bec875ede47429e7b9a

Bitcoin Daily Exchange Net Flows Indicate Continued Sell-Offs. Bitcoin’s daily net transaction flow has been volatile for at least the past month. This is due to the large swings between dumping and monopolizing investors in this space, each of which has influenced the price of the digital asset in its own way. However, the network flows are beginning to find a balance, which unfortunately is not a positive balance. Yesterday’s entries and exits aren’t alarming in any way, but the fact that it continues to move toward the entrance is a testament to the scale that shook the place. Glassnode data shows net flows between the two, showing that more bitcoins are moving into centralized exchanges than from them. A total of $ 729.7 million of Bitcoin was moved from exchanges last day, with inflows reaching $ 766.9 million.

This negatively affected the price of Bitcoin as the digital asset fell below $ 20,000. The rise in USDT outflows suggests that investors are moving to stable currencies for security reasons. That’s why they don’t buy digital currencies like Bitcoin. Despite the fact that the price of Bitcoin continues to fall, the interest of investors, especially small ones, is not lost. This renewed interest is seen in the number of addresses that hold at least 0.1 Bitcoin. As a result, the value of Bitcoin decreased and dropped below $ 20,000. The increase in USDT outflows indicates that for security purposes, investors are switching to stable currencies. They don’t purchase virtual currencies like Bitcoin because of this. Despite the fact that the price of Bitcoin is decreasing, investors’ interest—particularly small investors—remains high. The number of addresses holding at least 0.1 Bitcoin indicates this resurgence in interest.

Read more: Kenya has the highest percentage of cryptocurrency owners in Africa. UNCTAD data indicate

Exclusively hand curated news, written precisely in short by our editors for a 60 seconds read! We understand that reading multiple news from various resources could be monotonous, time consuming and less interesting. At Dcryptonews, you will experience a new style of reading news with smart keyword, ease of language that is easy to read for a quick news grasp.