CryptoQuant: Bitcoin net flow indicator has recently shown a significant negative value
ChainCatcher news, CryptoQuant published an analysis stating that the net bitcoin flow indicator on a certain exchange has recently shown a significant negative value, and the 30-day moving average (SMA30) data indicates that a large amount of bitcoin is flowing out of the exchange.
Analysts pointed out that this phenomenon suggests investors are more inclined to hold rather than sell, which is usually consistent with the accumulation phase in the market cycle. Although daily data fluctuates greatly, the 30-day average trend clearly points to accumulation behavior, which may indicate increasing market confidence. Experts believe that the current trend may support a short-term bullish outlook for bitcoin.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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