• Skip to main content
  • Skip to primary sidebar
  • Skip to footer
  • bitcoinBitcoin(BTC)$27,194.001.16%
    BITCOIN
    24H : 1.16%
    Volume : $13,894,993,617.00
    Marketcap : $527,466,775,239.00
  • ethereumEthereum(ETH)$1,905.911.92%
    ETHEREUM
    24H : 1.92%
    Volume : $7,002,844,622.00
    Marketcap : $229,162,596,498.00
  • binancecoinBNB(BNB)$307.861.05%
    BNB
    24H : 1.05%
    Volume : $526,506,967.00
    Marketcap : $48,600,447,976.00
  • rippleXRP(XRP)$0.5263.15%
    XRP
    24H : 3.15%
    Volume : $1,151,979,814.00
    Marketcap : $27,343,132,342.00
  • cardanoCardano(ADA)$0.3783.14%
    CARDANO
    24H : 3.14%
    Volume : $219,327,797.00
    Marketcap : $13,258,669,020.00
  • dogecoinDogecoin(DOGE)$0.0731.31%
    DOGECOIN
    24H : 1.31%
    Volume : $222,673,722.00
    Marketcap : $10,162,378,124.00
  • solanaSolana(SOL)$21.232.62%
    SOLANA
    24H : 2.62%
    Volume : $261,249,380.00
    Marketcap : $8,425,525,882.00
  • matic-networkPolygon(MATIC)$0.8980.660%
    POLYGON
    24H : 0.660%
    Volume : $176,986,421.00
    Marketcap : $8,332,320,468.00
  • polkadotPolkadot(DOT)$5.270.970%
    POLKADOT
    24H : 0.970%
    Volume : $121,529,965.00
    Marketcap : $6,535,660,693.00
  • okbOKB(OKB)$46.330.880%
    OKB
    24H : 0.880%
    Volume : $4,097,350.00
    Marketcap : $2,780,134,392.00
TodayinCrypto.com

TodayinCrypto.com

  • Home
  • Latest News
  • YOUTUBE RECAPS
  • CONTACT US

Despite a drop to $44,000, on-chain data indicates that Bitcoin remains bullish


August 19, 2021 · By Muhammad Awwal
Bitcoin (BTC)


Bitcoin netflows on exchanges are still deeply negative, according to on-chain data, indicating that BTC is still bullish. Despite the drop to $44k.

According to a CryptoQuant post, the Bitcoin netflow indicator has been extremely negative recently, implying that the market is still bullish overall.

By subtracting the inflow from the outflow, the netflow is obtained. When this indicator has a negative value, it means that there are more outflows than inflows. A situation like this could indicate that the market is under buying pressure.

A positive value, on the other hand, occurs when inflows outnumber outflows. As a result, a positive value could indicate that the market is under selling pressure.

After smoothing out the curve with a 30-day moving average, here is how the chart for all exchanges BTC netflow looks:

Source: CryptoQuant



According to the graphic, Bitcoin has begun to exhibit a negative netflow trend, with recent values becoming more pronounced.

In addition, the chart displays some intriguing relationships with the coin’s price over the past year. Netflows were extremely negative before the bull market began. When the crash occurred, the curve shifted to the positive side.

Given the aforementioned trends, reasonably negative numbers, such as those shown above, could be bullish for Bitcoin price action.

Primary Sidebar

LATEST NEWS

Gemini Exchange Set to Bedazzle UAE: Winklevoss Twins Go East

June 1, 2023

Crypto’s Role Overstated in Fentanyl Trade, Despite Warren’s Claims

June 1, 2023

Tether Expands into Renewable Energy-Powered Bitcoin Mining in Uruguay

May 31, 2023

Nansen Cuts 30% Staff Amid Prolonged Crypto Winter, Stresses Strategic Consolidation

May 31, 2023

Richard Heart’s ‘Pulse’ Flatlines: Misery Multiplies for Users as HEX Hits New Lows

May 30, 2023

  • Facebook
  • Instagram
  • Twitter

Newsletter

Footer

ABOUT US

TodayinCrypto is a financial media brand that strives to deliver breaking, accurate and daily news about digital assets to millions of investors in the crypto industry.

We are passionate about Bitcoin and are keen to share news about the people, companies and technological developments that are changing our world.

TODAY IN CRYPTO

  • Red Bull Racing Teams Up with Mysten Labs’ Sui Network for Blockchain Revolution June 1, 2023
  • Gemini Exchange Set to Bedazzle UAE: Winklevoss Twins Go East June 1, 2023
  • Crypto’s Role Overstated in Fentanyl Trade, Despite Warren’s Claims June 1, 2023

Search

Tags

Aave (AAVE) Aleph.im (ALEPH) Arweave (AR) Avalanche (AVAX) Benchmark Protocol (MARK) Binance Coin (BNB) Bitcoin (BTC) Bondly (BONDLY) Bridge Mutual (BMI) Cardano (ADA) Celsius Network (CEL) Chainlink (LINK) Decentraland (MANA) Dogecoin (DOGE) Elrond (EGLD) Enjin Coin (ENJ) Ethereum (ETH) Ethernity Chain (ERN) Fantom (FTM) FTX Token (FTT) Kusama (KSM) Litecoin (LTC) NFT OriginTrail (TRAC) PAID Network (PAID) PancakeSwap (CAKE) Polkadot (DOT) Polkastarter (POLS) Polygon (MATIC) SnowSwap Solana (SOL) SuperFarm (SUPER) Sushi (SUSHI) Terra (LUNA) Terra Classic (LUNC) The Graph (GRT) Theta Network (THETA) Tixl (TXL) Trustswap (SWAP) Uniswap (UNI) USD Coin (USDC) VeChain (VET) XRP (XRP) yearn.finance (YFI) Yield Optimization Platform & Protocol (YOP)

Copyright © 2023 · Today in Crypto · Terms & Privacy · Log in