[ad_1]
- Bitcoin’s exchanges reserves saw an upswing with +20k BTC inflows
- Bitcoin’s netflow turned positive after weeks of decline
Since hitting an all-time high of $108k on the charts, Bitcoin [BTC] has struggled to maintain any momentum on the charts. In fact, the crypto has traded sideways over the past 2 weeks. At the time of writing, Bitcoin was trading at $94,480 following losses of 2.01% over a 24-hour timeframe.
Needless to say, the prevailing market conditions have left analysts talking about BTC’s price trajectory, with some of them even anticipating a potential crash.
IT Tech, a popular Cryptoquant analyst, is one of them, with the aforementioned predicting a potential market correction in lieu of rising reserves and netflows.
Bitcoin’s reserves and exchange netflows soar
According to Cryptoquant, Bitcoin metrics have been flashing signs of a potential change in market dynamics.
For example – BTC’s spot exchange reserves, after declining consistently over the past month in light of investors getting their assets off exchanges, recently recorded a significant uptick with 20k BTC in…
[ad_2]
