Bitcoin's exchange net flow has hit one-month high in terms of USD value and a four-month peak in BTC.
The metric gauges the overall flow of Bitcoin into and out of centralized exchange wallets, and its value is determined by subtracting outflows from inflows. A high positive figure signifies an increasing reserve. For a spot exchange, a significant net flow implies growing selling pressure.
ETF decisions that were originally anticipated for Friday, casting a shadow over traders’ prospects for a sustained market rebound.by over $2,000 from its intraweek high at over $28,000 and erased all the Grayscale-propelled gains.Bitcoin velocity has reached a three-year low – reaching levels not seen since August 2020. Data from CryptoQuantthat the figure currently stands at 23.80 and is yet to reach the historical low of 19.80.
Furthermore, the Average Dormancy metric has risen, which essentially implies that investors who have been holding BTC for a long time are inclined to sell the token to make a profit.
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