Crypto analytics platform Glassnode Alerts has reported very bullish daily flow statistics around exchanges cryptographic. According to the data, in the last 24 hours, key cryptocurrencies left the exchanges in large numbers. At the same time, there were large inflows of stablecoins to CEX. BTC/USD consolidates just below $17,000 on Sunday.
Bitcoin and ETH stock flows are sending a bullish signal over the holidays
By this Christmas morning, the net outflow of Bitcoin from the exchanges was the equivalent of $46.8 million, while the total amount of withdrawals was almost $300 million. In the case of Ethereum, these amounts are smaller, but the trend is the same. The total amount paid out was $102.8 million in ETH, which is $16.3 million more than the amount that centralized cryptocurrency exchanges received at the same time.
📊 Daily On-Chain Exchange Flow#Bitcoins $BTC
➡️ $250.2M in
⬅️ $297.0M out
📉 Netflow: -$46.8M#Ethereum $ETH
➡️ $86.4M in
⬅️ $102.8M out
📉 Netflow: -$16.3M#Tether (ERC20) $USDT
➡️ $279.7M in
⬅️ $227.9M out
📈 Net flow: +$51.9Mhttps://t.co/dk2HbGwhVw — glassnode alerts (@glassnodealerts) December 25, 2022
USDT inflows to exchanges at the same time were close to the USD 280 million mark, while outflows were USD 52 million lower.
Do you want to buy or sell Bitcoin (BTC)? Take advantage of the offer of cashify, a network of exchange offices that allows you to exchange over 460 cryptocurrencies. CHECK US >> Despite the positive data on outflows and inflows on December 25, the overall statistics remain mixed. Talking about the immediate beginning of the bull market seems premature, but the real field for speculation on this subject is already being created.
The most attention is now probably focused on the USDT.D indicator, which reflects the extent of dominance of free cash on the cryptocurrency market in the form of the Tether stablecoin. At the moment, the index has stopped at a record level of 8.6%. According to analysts, his next move will determine and tell which of the “animals” – bulls or bears – will be the winners in the near future.
Bitcoin (BTC) Consolidates Below $17,000 on Holidays
BTC/USD quotations, similarly to traditional financial markets, have recently been characterized by extremely low volatility. Thus, the exchange rate is consolidating in a narrow range above the local support of USD 16,500 and the resistance of USD 17,000. Only a permanent and strong break in one of the sides should result in the creation of a stronger impulse.
BTCUSD rate on a daily interval, tradingview The partner of the article is cashify, a network of exchange offices that allows you to exchange over 460 cryptocurrencies both stationary in one of the points located throughout the country, as well as with access to the customer, or remotely using BLIK. The entire transaction is 100% secure and will take you no more than a few minutes. Follow us on Google News. Search for what is important and stay up to date with the market! Follow us >>
