Bitcoin is now back above the $20k mark after observing some sharp uptrend over the past day, but is this pump sustainable? Here’s what on-chain data has to say about it.
Bitcoin All Exchanges Netflows Remain Muted Following The Price Rise
Kao što je objasnio analitičar u CryptoQuant-u pošta, the BTC exchange netflows can help us know whether this short-term uptrend is sustainable or not.
"sve razmjene netflow” is an indicator that measures the net amount of Bitcoin entering or exiting wallets of all centralized exchanges. The metric’s value is simply calculated by taking the difference between the priliva i odlivi.
When the indicator has a positive value, it means investors are depositing a net number of coins to exchanges right now. Since these holders may be sending the BTC to exchanges for selling purposes, this kind of trend could have bearish implications on the price of the crypto.
On the other hand, negative values of the netflow imply the outflows are currently overwhelming the inflows. Such a trend, when prolonged, can be bullish for the coin as it may be a sign of accumulation from holders.
Now, here is a chart that shows the trend in the Bitcoin all exchanges netflow over the last couple of weeks:
Looks like the value of the metric saw a spike about a week ago| Source: CryptoQuant
As you can see in the above graph, only the positive scale of the Bitcoin exchange netflow is displayed, as it’s a sufficient enough metric in the context of the current price discussion.
It seems like there have been no significant spikes in the value of the indicator since the crypto has observed the pump. This means that whales haven’t deposited any coins for dumping yet.
Just a week or so back, there was a pretty large positive netflow spike, shortly after which BTC returned back from its small rise.
For now, Bitcoin hasn’t seen any such inflows, which would suggest the rise could continue in the short term. However, it remains to be seen how long the whales will keep sitting still.
BTC cena
U vrijeme pisanja, Bitcoin cijena kreće se oko 20.5 hiljade dolara, što je porast od 7% u posljednjih sedam dana. Tokom proteklog mjeseca, kriptovaluta je dobila 9% na vrijednosti.
Grafikon ispod prikazuje kretanje cijene novčića u posljednjih pet dana.
The value of the crypto seems to have sharply risen up over the past 24 hours | Source: BTCUSD na TradingView
Istaknuta slika sa Jievani Weerasinghe na Unsplash.com, grafikoni sa TradingView.com, CryptoQuant.com
Source: https://www.newsbtc.com/news/bitcoin/bitcoin-rise-above-20k-sustainable-on-chain-data/