Data from the chain shows that net bitcoin flow is still very negative, and BTC remains bullish. That’s despite dropping to $ 44K.
Exchanges Observe Deep Negative Net Bitcoin Flow
Bitcoin’s NetFlow indicator has been very negative recently, indicating that the signs are still bullish for the market overall, cryptoquant reported.
As for Net flow, the other two indicators are output and flow. The first is defined as the total amount of BTC flows from exchanges to personal portfolios.
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When the value of this indicator rises, it means that more investors want to trade or sell over-the-counter transactions.
The entry indicator is the opposite, which is the amount of bitcoin that passes from personal wallets to Central exchanges. As the value increases, this means that more investors want to sell or swap their money for altcoins.
Net flow is calculated by subtracting the flow from the output. When this indicator has a negative value, it indicates that the output is larger than the input. This may mean that there is pressure on the market from buyers.
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On the other hand, it has a positive meaning, a place, an outlet that transcends the flow of time. Therefore, a positive value can mean that there is buyer pressure in the market.
Now, here’s what the chart looks like for all BTC NetFlow exchanges after flattening the 30-day moving average curve:
Net BTC stream shows negative values / source: CryptoQuant
Looking at the chart above, it seems that bitcoin is starting to catch up with the negative trend towards net flow, and its values have deepened recently.
The chart also shows some interesting correlations with the price of last year’s currency. The net output before the bull run began was very negative. When failure occurred, the curve was very positive.
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