{"id":491813,"date":"2022-05-31T17:00:56","date_gmt":"2022-05-31T17:00:56","guid":{"rendered":"https:\/\/wncen.com\/?p=491813"},"modified":"2024-06-11T14:20:13","modified_gmt":"2024-06-11T14:20:13","slug":"bitcoin-exchange-outflows-suggest-that-investors-are-starting-to-accumulate","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-exchange-outflows-suggest-that-investors-are-starting-to-accumulate\/","title":{"rendered":"Bitcoin Exchange Outflows Suggest That Investors Are Starting To Accumulate"},"content":{"rendered":"

Bitcoin exchange outflows have been turning for the better recently. What had predicated this was a long week of inflows surpassing outflows, solidifying the fact that it was a seller\u2019s market. However, the tide has begun to turn as the Monday numbers are in. Bitcoin exchange outflows have now surpassed inflows by a large margin.\u00a0<\/span><\/p>\n

Investors Are Accumulating<\/h2>\n
Glassnode has published exchange inflow and outflow data which points toward an accumulation trend among investors. For the start of the week, the inflows into centralized exchanges had touched $1.1 billion, a high number. But the outflows came out even higher. Bitcoin investors have moved $1.4 billion out of centralized exchanges in the last day. This has resulted in a negative net flow of -$325.3 million.<\/p>\n
Related Reading |\u00a0Negative Sentiment Deepens In Crypto, Why Recovery May Not Last<\/a><\/strong><\/em><\/p>\n
The same trend was recorded across the second-largest cryptocurrency, Ethereum, whose net flow had come out to the negative as well. In total, there was $476 million worth of ETH moving into exchanges. However, $487 million were moved out of exchanges, bringing the negative net flow to -$11 million.<\/p>\n
This trend also mirrors that recorded in the Tether UST net flows. Inflows have surpassed outflows by more than $126 million, indicating that more investors are choosing to accumulate more cryptocurrencies such as bitcoin and Ethereum and moving out of stablecoins such as USDT.<\/p>\n
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\ud83d\udcca Daily On-Chain Exchange Flow #Bitcoin<\/a> $BTC<\/a>
\u27a1\ufe0f $1.1B in
\u2b05\ufe0f $1.4B out
\ud83d\udcc9 Net flow: -$325.3M #Ethereum<\/a> $ETH<\/a>
\u27a1\ufe0f $476.0M in
\u2b05\ufe0f $487.0M out
\ud83d\udcc9 Net flow: -$11.0M #Tether<\/a> (ERC20) $USDT<\/a>
\u27a1\ufe0f $510.1M in
\u2b05\ufe0f $383.7M out
\ud83d\udcc8 Net flow: +$126.4M https:\/\/t.co\/dk2HbGwhVw<\/a><\/p>\n
— glassnode alerts (@glassnodealerts) May 31, 2022<\/a><\/p><\/blockquote>\n