• News
    • Bitcoin
    • Altcoins
  • NFT
  • Metaverse
  • Analysis
  • Regulation
  • Learn
  • Market Cap
What's Hot

Meta Unveils Next-Gen AI Tools and Digital Companions for the Metaverse

2023-09-28

What Is Toncoin (TON)? Everything You Need To Know

2023-09-28

Valentino Rossi Steps into The Sandbox with ValeVerse

2023-09-27
Facebook Twitter Instagram
  • Contact
  • Terms & Conditions
  • Privacy Policy
  • DMCA
Facebook TikTok Instagram YouTube
CryptoNewsMetaverse
  • News
    • Bitcoin
    • Altcoins
  • NFT

    U.S. IRS Considers Taxing NFTs Like Other Collectibles

    2023-03-21

    Meta Shuts Down NFT Project to Focus on FinTech and Content

    2023-03-14

    Solana’s Solend V2 Release, Is SOL Price $50 Next?

    2023-03-06

    Amazon NFT Marketplace To Reportedly Launch Next Month

    2023-03-06

    Blur Coin Under Fire As Allegations Of Wash Trading Emerge

    2023-03-01
  • Metaverse

    Meta Unveils Next-Gen AI Tools and Digital Companions for the Metaverse

    2023-09-28

    Valentino Rossi Steps into The Sandbox with ValeVerse

    2023-09-27

    Opportunities for Artists and Creators at Decentraland Music Festival 2023

    2023-09-26

    Hitachi Leverages Metaverse and VR for Next-Generation Workforce Training

    2023-09-25

    Upland and KABOOM! Unite to Address Playspace Inequity

    2023-09-22
  • Analysis

    DOJ Officially Seizes Over $456,000,000 Worth of Robinhood Shares Tied to FTX Founder Sam Bankman-Fried

    2023-01-08

    Mark Cuban Makes Prediction on Next Crypto ‘Scandal,’ Warns of Potential Implosion if Exposed: Report

    2023-01-08

    Binance Listings Cause Crypto Assets To Spike an Average of 41%: New Research

    2023-01-08

    Bitcoin Whales Unloaded BTC As Market Reversed and Parked Their Profits in This Crypto Asset Class: Santiment

    2023-01-07

    Crypto Analyst Predicts Breakout for AI-Focused Altcoin, Updates Outlook on Ethereum and Lido DAO

    2023-01-07
  • Regulation

    Ripple files motion to block SEC appeal attempt

    2023-09-04

    JP Morgan believes SEC will be forced to approve ETFs after losing case against Grayscale

    2023-09-03

    Ripple Files Motion To Oppose SEC Appeal Over Landmark XRP Ruling

    2023-09-03

    U.S. SEC Punts on Bitcoin (BTC) Spot Exchange-Traded Fund Approvals, Delays Decisions Until October

    2023-09-02

    Navigating the significance of legal opinions in the crypto sphere

    2023-09-02
  • Learn

    What Is Toncoin (TON)? Everything You Need To Know

    2023-09-28

    What is NBA Top Shot? A Beginner’s Guide

    2023-09-22

    What Are Bridges in Crypto? Cross-Chain Bridges, Explained – Cryptocurrency News & Trading Tips – Crypto Blog by Changelly

    2023-09-21

    SingularityNET (AGIX) Price Prediction 2023 2024 2025

    2023-09-18

    What Are Altcoins? Best Altcoins to Buy  – Cryptocurrency News & Trading Tips – Crypto Blog by Changelly

    2023-09-08
  • Market Cap
CryptoNewsMetaverse
Home»Bitcoin»Bitcoin (BTC) Breaks 7 Year Record In Inflows; What It Means?
Bitcoin

Bitcoin (BTC) Breaks 7 Year Record In Inflows; What It Means?

2023-01-04No Comments3 Mins Read
Share
Facebook Twitter LinkedIn Pinterest Email

Bitcoin (BTC) News: The wait for Bitcoin (BTC) price breakout from the current level continues to frustrate retail traders. On chain data suggests that the current BTC exchange inflows is having a historically low patch, going by the numbers in last two weeks. However, if the BTC inflows edge higher and break the trend, it means the wait continues. Essentially, a spell of high BTC exchange inflows could mean the Bitcoin local bottom is not priced in yet. It should also be kept in mind that the current market cycle broke many patterns like this and hence made it unpredictable at times.

Also Read: Solana Surges By 40%, ETC Up By 17%; Can Altcoins Keep Up This Rally Ahead?

Record Low BTC Total Inflows

The total Bitcoin exchange inflows generally suggests how the local bottom is placed in the current scenario. According to Crypto Quant data, the current BTC inflow figures at the lowest since as many as 7 years. However, the general perception is that the low average might not last longer. This is considering the current market scenario around liquidity with Genesis Trading as well as the macroeconomic outlook for near future.

“Currently we are under 26k (looking at 14 days simple moving average (SMA)) daily BTC total inflows, which is the lowest since mid-2015.”

BTC In Bottom Territory

Also, a look at the current BTC Market Value (MV) to RV (Realized Value) ration indicates that the cryptocurrency is in a potential bottom territory. Since as many as three weeks, the top cryptocurrency failed to break the $17,000 level. The price movement has largely been sideways, paving an almost flat line for more than a week in December 2022. As of writing, BTC price stands at $16,832, up 0.65% in the last 24 hours, according to price tracking platform CoinMarketCap.

Also Read: Popular Analyst Bullish On Ethereum Price, Makes First Trade Of 2023

Anvesh reports major developments around crypto adoption and trading opportunities. Having been associated with the industry since 2016, he is now a strong advocate of decentralized technologies. Anvesh is currently based in India. Follow Anvesh on Twitter at @AnveshReddyBTC and reach him out at [email protected]

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.

Source link

Bitcoin Breaks BTC inflows means Record Year
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

U.S. SEC Punts on Bitcoin (BTC) Spot Exchange-Traded Fund Approvals, Delays Decisions Until October

2023-09-02

Ex-SEC chair Jay Clayton says approval for a spot Bitcoin ETF is ‘inevitable’

2023-09-01

Approval of a Spot Bitcoin ETF in the US Is Inevitable, Says Former SEC Chair Jay Clayton

2023-09-01

Grayscale’s SEC Victory Being Overhyped by Bitcoin Bulls, Says Nicholas Merten – Here’s Why

2023-08-31
Add A Comment

Leave A Reply Cancel Reply

Top Posts

CBA‘s plans to expand crypto services to 6.5M users delayed by red tape

2022-04-07

How to find lost Bitcoins or Lost Bitcoin Wallet: Full Guide

2022-08-09

Major media want answers: Who guaranteed Bankman-Fried’s $250M bail?

2023-01-14

Subscribe to Updates

Get the latest news and Update from Cryptonewsmetaverse.com about Crypto, Metaverse and NFT.

Our mission is to develop a community of people who try to make financially sound decisions. The website strives to educate individuals in making wise choices about Cryptocurrencies, NFT, Metaverse and more.

We're social. Connect with us:

Facebook Instagram YouTube TikTok
Top Insights

Meta Unveils Next-Gen AI Tools and Digital Companions for the Metaverse

2023-09-28

What Is Toncoin (TON)? Everything You Need To Know

2023-09-28

Valentino Rossi Steps into The Sandbox with ValeVerse

2023-09-27
Get Informed

Subscribe to Updates

Get the latest news and Update from Cryptonewsmetaverse.com about Crypto, Metaverse and NFT.

  • Contact
  • Terms & Conditions
  • Privacy Policy
  • DMCA
© 2023 Cryptonewsmetaverse.com. Designed by ProdigitalX.

Type above and press Enter to search. Press Esc to cancel.

  • bitcoinBitcoin(BTC)$26,874.00-0.64%
  • ethereumEthereum(ETH)$1,667.630.79%
  • USDEXUSDEX(USDEX)$1.07-0.53%
  • tetherTether(USDT)$1.000.18%
  • binancecoinBNB(BNB)$215.44-0.13%
  • rippleXRP(XRP)$0.534.04%
  • usd-coinUSDC(USDC)$1.000.21%
  • Lido Staked EtherLido Staked Ether(STETH)$1,667.700.93%
  • cardanoCardano(ADA)$0.2525921.51%
  • dogecoinDogecoin(DOGE)$0.0618010.60%