The Accumulation Trend On BTC and ETH Continues

[Maniés]

Bitcoin and Ethereum outflows from centralized exchanges indicate a growing trend among investors. This has resulted in billions of dollars of tokens being withdrawn from exchanges every week due to investor selling. Even now, despite the recovery in bitcoin and ethereum prices, stock market outflows continue, suggesting investors are not slowing down their buying.

Data from Glassnode shows that for the last day, the net flows for Bitcoin reached as high as $158.5 million. There had been a total of $498 million worth of BTC flowing into exchanges, but more than $656 million had flowed out.

Ethereum saw a similar net flow trend where $170.7 million flowed into the exchanges and $212.7 million flowed out of the exchanges. This led to a negative net flow of -$42 million over the 24-hour period.

Crypto markets have been consolidating for some time now, but indicators suggest the trend may be coming to an end. The inflow of Tether (USDT) into centralized currencies also shows this. The net flow of stablecoins remains positive, indicating the end of the sell-off and the beginning of a buying trend in the market. However, with net inflows of around $77 million over the past day, it remains difficult to pinpoint exactly when there will be a significant rebound.