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As Bitcoin Makes New ATH, Netflow Hints BTC Will Explode Here

As Bitcoin Makes New ATH, Netflow Hints BTC Will Explode Here


NewsBTC
2021-10-20 19:00:05
As Bitcoin Makes New ATH, Netflow Hints BTC Will Explode Here

The history of the Bitcoin netflow indictor may suggest that the current market is ready for the next major price swing up as the crypto makes a new ATH. Bitcoin Netflow Has Historically Approached Zero Before Major Price Upswings As explained by an analyst in a CryptoQuant post, there seems to be a relationship between BTC netflows and price swings upward. The Bitcoin netflow indictor is defined as the difference between the inflows and the outflows, and it shows the net amount of the crypto entering or exiting centralized exchanges. When the metric takes on negative values, it means there are more investors withdrawing their coins compared to those depositing. Sustained such a trend can be bullish for BTC as holders usually take their crypto off exchanges for hodling or selling through OTC deals. On the other hand, when more coins are flowing into exchanges than those flowing out, the netflow shows positive values, which may be bearish as it implies investors are sending their Bitcoin to exchanges for withdrawing to fiat or for buying altcoins. Now, here is a chart that shows the trend in the value of the indicator over the last year: The relation between BTC price and the netflows | Source: CryptoQuant In the above graph, the analyst has marked the behavior of the indicator compared with the Bitcoin price. As is apparent, the netflow always touched the zero mark right before a big price move up. A netflow value of zero...

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