Incoming volatility? Bitcoin Flows Rise

Bitcoin price has remained relatively stagnant in recent days, hovering around $19,000 without much movement.

This may all be about to change soon as it appears that whales have sent a large amount of BTC to discover exchanges.

  • Data from a popular cryptocurrency analysis resource CryptoQuant It reveals that flows to spot exchanges have risen significantly.
  • This came mainly from the 100-1,000 BTC electoral addresses that sent BTC to exchanges in bulk.
  • The comment on the matter was one CryptoQuant analyst who said:

The whales seem to want lower bitcoin prices. Transferring from wallets containing 100 to 1000 bitcoins in bulk to instant exchanges for a while can bring the price down even more and can be a distribution to different wallets.

But on the downside, I anticipate the negative scenario and am cautious.

Source: CryptoQuant

  • In the meantime, the prevailing sentiment in the market remains one of intense fear. In fact, the fear has become more and more in recent days as most cryptocurrencies are trading within a narrow range with slow declines.

What post volatility ward? Bitcoin Exchange Inflows Skyrocket debuted on CryptoPotato.

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