More and more Bitcoin on the encrypted exchanges! Will the accident reach $ 30,000?

More and more Bitcoin on the encrypted exchanges!  Will the accident reach $ 30,000?

Data show that BTC exchange inflows hit a monthly high. This suggests, that brewing is under enormous selling pressure.

Bitcoin crash again?

The data analytics company on Glassnode chain has just tweeted a chart. It shows the 7-day moving average of the exchange addresses that receive bitcoin. The result: The number of addresses with BTC per month was 1,889,792.



Sustained inflows are always a concern for market participants. The graphic below shows one a sharp upward trend on this factor from the end of April 2022 onwards.

Bitcoin Exchange Inflows, Source: @glassnodealerts on

As the US Federal Reserve maintains its hawkish stance, dangerous assets like Bitcoin are falling becoming more and more under pressure. With no signs of inflation coming under control, Investors brace themselves for worse.

Raising interest rates at the central bank has an effect

On Wednesday, the central bank raised interest rates by half a percentage point – the largest single hike in two decades. Although bitcoin initially rose due to the aggressive position of the US Federal Reserve, the mood of the traders changed.

The bears took control around noon (GMT) on May 5, prompting 7% sales. A similar pattern has emerged for equities, with ecommerce companies such as eBay and Shopify giving investors the greatest push for flight.

4 hour Bitcoin chart, Source: BTCUSDT on

Krishna Guhu, strategist at investment bank Evercore, said: The rate hikes have been recent it did not have the desired effect of curbing inflation. Therefore further rate increases are expected. Guú:

“It is too early for nutrition to ease financial conditions again on an ongoing basis, as it would counteract the necessary slowdown in economic activity needed to control inflation.”

FX inflow increases selling pressure

The mood among investors can be assessed using key figures on foreign exchange flows. Liquidity inflows into exchanges are taken as an indication of a bear market, and outflows from the exchanges they are usually a sign of a bull market.

Inflows are considered a bearish signal because sending bitcoin to an exchange requires investors to remove the bitcoin from the store and pay a transaction fee. Since no one wants to pay unnecessary expenses, there must be a reason to transfer signals to an exchange.

The most likely reason to send money to an exchange It is to sell the tokens. So inflows into the stock market increase selling pressure and suggest that prices may fall. It remains to be seen whether this will be the case this time too.

Text credit: Cryptoslate

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