{"id":6959,"date":"2023-05-26T18:41:41","date_gmt":"2023-05-26T18:41:41","guid":{"rendered":"https:\/\/www.bitrabo.com\/community\/exchange-netflow-registers-negative-spike\/"},"modified":"2023-05-26T18:42:24","modified_gmt":"2023-05-26T18:42:24","slug":"exchange-netflow-registers-negative-spike","status":"publish","type":"post","link":"https:\/\/www.bitrabo.com\/discover\/exchange-netflow-registers-negative-spike\/","title":{"rendered":"Bitcoin Exchange Netflow Records Negative Spike"},"content":{"rendered":"\n<div>\n<p>The net amount of Bitcoin entering or leaving centralized exchange wallets, also known as exchange netflow, has recently witnessed a significant negative spike. This could be a bullish indicator for the Bitcoin price, as explained below.<\/p>\n<h2>Plunge in Bitcoin Exchange Netflow<\/h2>\n<p>The exchange netflow changes over time, reflecting the inflows and outflows of Bitcoin from exchange wallets. A positive value for this indicator implies that more BTC is entering these wallets than leaving, which generally has bearish implications for the price of the asset. Conversely, a negative value for the indicator suggests that the outflows are exceeding the inflows, potentially indicating that Bitcoin&#8217;s holders are accumulating it and hence could lead to price appreciation.<\/p>\n<p>An analyst at CryptoQuant notes a recent negative spike in this metric, suggesting that investors have withdrawn a considerable number of coins from these platforms. Similar negative spikes were observed earlier this month, which could have been a sign of whales attempting to catch the bottom as the asset&#8217;s price slipped below the $28,000 and $27,000 marks. This latest plunge followed Bitcoin&#8217;s decline, dropping to around $26,000. It represents the second-largest net outflow spike this year, with only the withdrawals around the $27,000 level being greater in scale.<\/p>\n<p>Although such outflows are not enough to trigger a price reversal, they could show buying pressure and confidence among some whales at current prices, which could ultimately contribute to the price hitting a bottom. Adding to this, the daily Relative Strength Index (RSI) has formed a potential bullish divergence recently, which could also be another factor to consider.<\/p>\n<p>Currently, Bitcoin is trading around $26,800, up 1% in the last week.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>The net amount of Bitcoin entering or leaving centralized exchange wallets, also known as exchange netflow, has recently witnessed a significant negative spike. This could be a bullish indicator for the Bitcoin price, as explained below. Plunge in Bitcoin Exchange Netflow The exchange netflow changes over time, reflecting the inflows and outflows of Bitcoin from [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":6961,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"slim_seo":{"title":"Bitcoin Exchange Netflow Records Negative Spike - Bitrabo","description":"The net amount of Bitcoin entering or leaving centralized exchange wallets, also known as exchange netflow, has recently witnessed a significant negative spike."},"footnotes":""},"categories":[316],"tags":[590,1119,1117,1118,1120],"class_list":["post-6959","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","tag-exchange","tag-negative","tag-netflow","tag-registers","tag-spike"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/posts\/6959","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/comments?post=6959"}],"version-history":[{"count":0,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/posts\/6959\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/media\/6961"}],"wp:attachment":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/media?parent=6959"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/categories?post=6959"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/tags?post=6959"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}