{"id":515524,"date":"2023-01-10T09:10:40","date_gmt":"2023-01-10T14:10:40","guid":{"rendered":"https:\/\/wncen.com\/?p=515524"},"modified":"2024-06-11T08:52:39","modified_gmt":"2024-06-11T08:52:39","slug":"bitcoin-exchange-inflow-2020-activity-low","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-exchange-inflow-2020-activity-low\/","title":{"rendered":"Bitcoin Exchange Inflows Fall To 2020 Levels As Activity Remains Low"},"content":{"rendered":"

Data shows the Bitcoin exchange inflows and outflows have both shrunk recently as market activity has remained low.<\/p>\n

Bitcoin Exchange Inflows & Outflows Continue To Decline<\/h2>\n

As per the latest weekly report from Glassnode<\/a>, the BTC inflow volumes are now only around $350-$400 million per day. The “exchange inflow<\/a>” is an indicator that measures the total amount of Bitcoin currently being deposited to centralized exchanges by holders. Its counterpart metric is the “exchange outflow<\/a>,” and it naturally tracks the volume leaving exchange wallets.<\/p>\n

Generally, during periods of high activity in the market, both these indicators rise to high values as a large number of investors make their respective moves. However, the price may react in particular directions depending on which of these metrics is higher at the moment.<\/p>\n

Since one of the main reasons why investors use exchanges is for selling purposes, inflows outweighing outflows could be bearish for Bitcoin. On the other hand, outflows being more dominant can suggest there may instead be buying pressure in the market as investors are withdrawing their coins for accumulation.<\/p>\n

Now, here is a chart that shows the trend in the Bitcoin exchange inflows and outflows over the last few years:<\/p>\n

\"Bitcoin<\/p>\n

looks like both these metrics have declined in recent weeks | Source: Glassnode's The Week Onchain - Week 2, 2023<\/a><\/pre>\n
As shown in the above graph, the Bitcoin exchange inflows and outflows were both at high levels during the past couple of years, with their volumes remaining in the range of multi-billion dollars throughout. At the peak of inflows back in May 2021, between $2.8 billion to $3.5 billion per day was entering exchange wallets.<\/p>\n
Related Reading: Is The Bitcoin Bottom In Yet? Here\u2019s What aSOPR Metric Suggests<\/a><\/div>\n
Recently, however, both the inflows and the outflows have significantly declined. Currently, the inflow volumes are between $350 million to $400 million per day, which are lows not seen since 2020. The outflows haven’t quite shrunk to these levels yet, possibly because of the fact that the collapse of FTX lead to renewed interest in self-custody among investors, which made them withdraw large amounts from centralized platforms.<\/p>\n
In the chart, data for the Ethereum<\/a> exchange flows are also displayed. It seems like before May 2021, the Bitcoin exchange flow dominance was about 70%, which means the combined volumes of Ethereum inflows and outflows made up for 30% of the total between ETH and BTC during the period.<\/p>\n
But since May 2021, the share of the Ethereum flows has significantly increased as ETH inflows and outflows dominance is now 42%. This trend suggests that the relative trading interest in ETH has gone up in the last one and a half years, while BTC has lost some mindshare.<\/p>\n
Related Reading: Ethereum 1-Month Realized Volatility Drops To Rare Level Seen Only Thrice In History<\/a><\/div>\n
Though, in pure numbers, both cryptocurrencies have seen very little market activity recently as both their exchange inflows and outflows are at pretty low values.<\/p>\n
BTC Price<\/h2>\n
At the time of writing, Bitcoin is trading around $17,200, up 3% in the last week.<\/p>\n
\"Bitcoin<\/p>\n
The value of the asset seems to have surged in the last couple of days | Source: BTCUSD on TradingView<\/a><\/pre>\n
Featured image from Kanchanara on Unsplash.com, charts from TradingView.com, Glassnode.com<\/div>\n","protected":false},"excerpt":{"rendered":"
Data shows the Bitcoin exchange inflows and outflows have both shrunk recently as market activity has remained low. Bitcoin Exchange Inflows & Outflows Continue To Decline As per the latest weekly report from Glassnode, the BTC inflow volumes are now only around $350-$400 million per day. The “exchange inflow” is an indicator that measures the total amount of Bitcoin currently being deposited to centralized exchanges by holders. Its counterpart metric is the “exchange outflow,” and it naturally tracks the volume leaving exchange wallets. Generally, during periods of high activity in the market, both these indicators rise to high values as a large number of investors make their respective moves. However, the price may react in particular directions depending on which of these metrics is higher at the moment. Since one of the main reasons why investors use exchanges is for selling purposes, inflows outweighing outflows could be bearish for Bitcoin. On the other hand, outflows being more dominant can suggest there may instead be buying pressure in the market as investors are withdrawing their coins for accumulation. Now, here is a chart that shows the trend in the Bitcoin exchange inflows and outflows over the last few years: looks like both these metrics have declined in recent weeks | Source: Glassnode’s The Week Onchain – Week 2, 2023 As shown in the above graph, the Bitcoin exchange inflows and outflows were both at high levels during the past couple of years, with their volumes remaining in the range of multi-billion dollars throughout. At the peak of inflows back in May 2021, between $2.8 billion to $3.5 billion per day was entering exchange wallets. Related Reading: Is The Bitcoin Bottom In Yet? Here\u2019s What aSOPR Metric Suggests Recently, however, both the inflows and the outflows have significantly declined. Currently, the inflow volumes are between $350 million to $400 million per day, which are lows not seen since 2020. The outflows haven’t quite shrunk to these levels yet, possibly because of the fact that the collapse of FTX lead to renewed interest in self-custody among investors, which made them withdraw large amounts from centralized platforms. In the chart, data for the Ethereum exchange flows are also displayed. It seems like before May 2021, the Bitcoin exchange flow dominance was about 70%, which means the combined volumes of Ethereum inflows and outflows made up for 30% of the total between ETH and BTC during the period. But since May 2021, the share of the Ethereum flows has significantly increased as ETH inflows and outflows dominance is now 42%. This trend suggests that the relative trading interest in ETH has gone up in the last one and a half years, while BTC has lost some mindshare. Related Reading: Ethereum 1-Month Realized Volatility Drops To Rare Level Seen Only Thrice In History Though, in pure numbers, both cryptocurrencies have seen very little market activity recently as both their exchange inflows and outflows are at pretty low values. BTC Price At the time of writing, Bitcoin is trading around $17,200, up 3% in the last week. The value of the asset seems to have surged in the last couple of days | Source: BTCUSD on TradingView Featured image from Kanchanara on Unsplash.com, charts from TradingView.com, Glassnode.com<\/p>\n","protected":false},"author":542,"featured_media":515540,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,87422,85555,87050,1119,1144,8323,1946],"class_list":["post-515524","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-activity","tag-bitcoin-exchange-inflows","tag-bitcoin-exchange-outflows","tag-btc","tag-btcusd","tag-eth","tag-ethereum"],"acf":[],"yoast_head":"\nBitcoin Exchange Inflows Fall To 2020 Levels As Activity Remains Low<\/title>\n<meta name=\"description\" content=\"Data shows the Bitcoin exchange inflows and outflows have both shrunk recently as market activity has remained low. 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Keshav has been writing for many years, first as a hobbyist and later as a freelancer. He has experience working in a variety of niches, even fiction at one point, but the cryptocurrency industry has been the longest he has been attached to. In terms of official educational qualifications, Keshav holds a bachelor\u2019s degree in Physics from one of the premier institutes of India, the University of Delhi (DU). He started the degree with an aim of eventually making a career in Physics, but the onset of COVID led to a shift in plans. The virus meant that the college classes had to be delivered in the online-mode and with it came free time for him to explore other passions. Initially only seeking to make some beer money, Keshav unexpectedly landed clients offering real projects, after which there was no looking back. Writing was something he had always enjoyed and to be able to do it for a living was like a dream come true. Keshav completed his Physics degree in 2022 and has been focusing on his writing career since, but that doesn\u2019t mean his passion for Physics has ended. He eventually plans to re-enter university to obtain a masters degree in the same field, but perhaps only to satiate his own interest rather than for using it as a means to find employment.. Keshav has found blockchain and its concepts fascinating ever since he started going down the rabbit-hole back in 2020. On-chain analysis in particular has been something he likes to research more about, which is why his NewsBTC pieces tend to involve it in some form. Being of the science background, Keshav likes if concepts are clear and consistent, so he generally explains the indicators he talks about in a bit of detail so that the readers can perhaps come out having understood and learnt something new. As for hobbies, Keshav is super into football, anime, and videogames. He enjoys football not only as a watcher, but also as a player. For games, Keshav generally tends towards enjoying singleplayer adventures, with EA FC (formerly FIFA) being the only online game he is active in. Though, perhaps due to being ultra-focused on the game, he is today a semi-pro on the EA FC scene, regularly participating in tournaments and sometimes even taking back prize money. Because of his enthusiasm for anime and games, he also self-learned Japanese along the way to consume some of the untranslated gems out there. The skill didn\u2019t merely remain as just a hobby, either, as he put it to productive use during his exploration for small-time gigs at the start of COVID, fulfilling a couple of Japanese-to-English translation jobs. Keshav is also big into fitness, with agility and acceleration-related workouts making a big part of his program due to the relevance they have in football. On top of that, he also has a more traditional strength based program for the gym, which he does to maintain an overall fitness level of his body.","sameAs":["https:\/\/www.linkedin.com\/in\/keshavverma29\/","https:\/\/x.com\/https:\/\/twitter.com\/keshavvarma29"],"url":"https:\/\/wncen.com\/author\/hououinkyouma29\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Bitcoin Exchange Inflows Fall To 2020 Levels As Activity Remains Low","url":"http:\/\/wncen.com\/news\/bitcoin-exchange-inflow-2020-activity-low\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/bitcoin-exchange-inflow-2020-activity-low\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/01\/kanchanara-4KJJezDyo3M-unsplash-scaled.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/01\/kanchanara-4KJJezDyo3M-unsplash-scaled.jpg?fit=2560%2C1707"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Keshav Verma"}],"creator":["Keshav Verma"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","bitcoin activity","bitcoin exchange inflows","bitcoin exchange outflows","btc","btcusd","eth","ethereum"],"dateCreated":"2023-01-10T14:10:40Z","datePublished":"2023-01-10T14:10:40Z","dateModified":"2024-06-11T08:52:39Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin Exchange Inflows Fall To 2020 Levels As Activity Remains Low\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-exchange-inflow-2020-activity-low\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-exchange-inflow-2020-activity-low\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/01\\\/kanchanara-4KJJezDyo3M-unsplash-scaled.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/01\\\/kanchanara-4KJJezDyo3M-unsplash-scaled.jpg?fit=2560%2C1707\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Keshav Verma\"}],\"creator\":[\"Keshav Verma\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"bitcoin activity\",\"bitcoin exchange inflows\",\"bitcoin exchange outflows\",\"btc\",\"btcusd\",\"eth\",\"ethereum\"],\"dateCreated\":\"2023-01-10T14:10:40Z\",\"datePublished\":\"2023-01-10T14:10:40Z\",\"dateModified\":\"2024-06-11T08:52:39Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/01\/kanchanara-4KJJezDyo3M-unsplash-scaled.jpg?fit=2560%2C1707","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/515524","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/542"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=515524"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/515524\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/515540"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=515524"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=515524"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=515524"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}