Results of Token Analyst`s research have shown net cryptocurrency outflow from exchanges for recent months. These data may point at investors` aspiration to store their BTC, but not to trade them – investment resource has learned.
For instance, Token Analyst notes net outflow from several large exchanges for November 3. The composition of daily activity varies, however, results show that coins are being withdrawn from active trading. These observations coincide with recent results of Delphi October report, where for the first time since April they have noted slowdown in the flow of crypto assets to exchanges. Since July, addresses` activity on the network also has slowed down, coinciding with the period of price movement within the corridor.
Wherein, recent Bitcoin rally, when the first cryptocurrency has increased by 30% for several hours, has become big surprise for many people. The greater part of October its price demonstrated weak activity, and traders kept their coins. In the second half of 2019 appeared signs that trading came to “whales”, and interest in retail trading decreased. Beside BTC flows, stablecoins activity is also important.
Today technical indicators point that bottom of the market may be behind, and now Bitcoin is searching for new direction from the level in $9 200. Despite several large transactions, USDT flows have showed net decrease compared to last week cryptocurrency exchange balances.