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bitcoin
Bitcoin (BTC) $ 95,797.67 4.25%
ethereum
Ethereum (ETH) $ 3,196.19 5.68%
xrp
XRP (XRP) $ 2.65 7.70%
tether
Tether (USDT) $ 0.999663 0.00%
bnb
BNB (BNB) $ 696.85 3.07%
solana
Solana (SOL) $ 186.83 5.43%
dogecoin
Dogecoin (DOGE) $ 0.353791 9.65%
usd-coin
USDC (USDC) $ 1.00 0.00%
cardano
Cardano (ADA) $ 0.980897 6.91%
staked-ether
Lido Staked Ether (STETH) $ 3,190.10 5.59%

Volatility Incoming? Bitcoin Exchange Inflows Skyrocket

The Bitcoin price has been relatively stagnant in the past few days, hovering around $19,000 without much movement.

This might all be about to change soon as whales appear to have sent a huge amount of BTC to spot exchanges.

  • Data from the popular cryptocurrency analytics resource CryptoQuant reveals that the inflows to spot exchanges have soared.
  • This comes mainly from whale addresses holding between 100 and 1000 BTC, who have been sending BTC to exchanges in large quantities.
  • Commenting on the matter was a CryptoQuant analyst, who said:

It seems that whales want lower prices for Bitcoin. Transferring from wallets that have from 100 to 1000 Bitcoin in large quantities to the spot exchanges a while ago, the price could press down more and it could be a distribution to different wallets.

But on the downside, I expect the negative scenario and take caution.

img1_abramchart
Source: CryptoQuant

 

  • Meanwhile, the predominant sentiment on the market remains extreme fear. In fact, it has been increasingly fearful throughout the past few days as most of the cryptocurrencies trade within a narrow range with slow declines.

The post Volatility Incoming? Bitcoin Exchange Inflows Skyrocket appeared first on CryptoPotato.

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