Exchange Inflows Data Marks Selling Pressure

Exchange-Inflows-Data-Marks-Selling-Pressure

After the higher-than-expected U.S. Core CPI reading, a substantial increase in exchange inflows led to a 10% price decline for bitcoin in a couple of hours.

The majority of the bitcoin movements were from the spot exchange (Coinbase) to the derivative one (Huobi), and predominantly a 3-6 month old whale address. These movements have significant implications for the long-term market cycle (see the article via the link below), but the bottom formation is not yet finalized.

Finally, a significant spike in Exchange Whale Ratio (EMA 7) has been corresponding to selling pressure in the market recently. Today's daily data will be definitive in terms of the severity of the moving average.

https://medium.com/cryptoquant/bitcoin-inter-exchange-flows-as-a-market-cycle-indicator-54f159367782