{"id":521128,"date":"2023-02-27T17:00:22","date_gmt":"2023-02-27T17:00:22","guid":{"rendered":"https:\/\/wncen.com\/?p=521128"},"modified":"2024-06-11T08:29:25","modified_gmt":"2024-06-11T08:29:25","slug":"crypto-market-crawls-to-a-standstill-as-investors-remain-neutral","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/crypto-market-crawls-to-a-standstill-as-investors-remain-neutral\/","title":{"rendered":"Crypto Market Crawls To A Standstill As Investors Remain Neutral"},"content":{"rendered":"

Over the last week, the crypto market has seen what can be described as a rollercoaster movement. After coming out of an impressive rally, the digital assets in the space attempted to hold on to their value but a downward spiral would follow. However, neither the upward nor downward movement has been sustained, leading to a completely neutral setup by Monday morning.<\/p>\n

Crypto Inflows And Outflows Remain Identical<\/h2>\n

The exchange inflows and outflows can usually be indicators of how investors are viewing the market. When inflows to centralized exchanges soar, it can lead to sell-offs, meaning that prices of digital assets in the space will decline. At the same time, outflows can point toward accumulation, helping to prop up the prices of cryptocurrencies.<\/p>\n

Related Reading: Here\u2019s The Reason Behind Solana\u2019s (SOL) 12% Jump<\/a><\/div>\n

However, in the last week, there has not been much of a demarcation between the inflow and outflow volumes. Data from Glassnode shows that in this 7-day period, there was $3.9 billion worth of Bitcoin (BTC) flowing into CEXes and $3.8 billion flowing out of exchanges.<\/p>\n

\"Crypto<\/p>\n

Total market cap still holding above $1 trillion | Source: Crypto Total Market Cap on TradingView.com<\/a><\/pre>\n

Likewise, Ethereum (ETH) saw $2.4 billion flow into exchanges with $2.2 billion flowing out. The stablecoin Tether (USDT) had the closest margin between the two with $3.7 billion worth of inflows and outflows recorded, respectively, with negative net flows of only -$23 million.<\/p>\n

\n

\ud83d\udea8 Weekly On-Chain Exchange Flow \ud83d\udea8#Bitcoin<\/a> $BTC<\/a>
\u27a1\ufe0f $3.9B in
\u2b05\ufe0f $3.8B out
\ud83d\udcc8 Net flow: +$96.5M
#Ethereum<\/a> $ETH<\/a>
\u27a1\ufe0f $2.4B in
\u2b05\ufe0f $2.2B out
\ud83d\udcc8 Net flow: +$242.3M
#Tether<\/a> (ERC20) $USDT<\/a>
\u27a1\ufe0f $3.7B in
\u2b05\ufe0f $3.7B out
\ud83d\udcc9 Net flow: -$23.0M
https:\/\/t.co\/dk2HbGwhVw<\/a><\/p>\n

— glassnode alerts (@glassnodealerts) February 27, 2023<\/a><\/p><\/blockquote>\n