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Bitcoin

As Bitcoin Makes New ATH, Netflow Hints BTC Will Explode Here

by Miki 10/20/2021
by Miki 10/20/2021 0 comment

The history of the Bitcoin netflow indictor may suggest that the current market is ready for the next major price swing up as the crypto makes a new ATH.

Bitcoin Netflow Has Historically Approached Zero Before Major Price Upswings

As explained by an analyst in a CryptoQuant post, there seems to be a relationship between BTC netflows and price swings upward.

The Bitcoin netflow indictor is defined as the difference between the inflows and the outflows, and it shows the net amount of the crypto entering or exiting centralized exchanges.

When the metric takes on negative values, it means there are more investors withdrawing their coins compared to those depositing. Sustained such a trend can be bullish for BTC as holders usually take their crypto off exchanges for hodling or selling through OTC deals.

On the other hand, when more coins are flowing into exchanges than those flowing out, the netflow shows positive values, which may be bearish as it implies investors are sending their Bitcoin to exchanges for withdrawing to fiat or for buying altcoins.

Now, here is a chart that shows the trend in the value of the indicator over the last year:

Bitcoin Netflows

The relation between BTC price and the netflows | Source: CryptoQuant

In the above graph, the analyst has marked the behavior of the indicator compared with the Bitcoin price. As is apparent, the netflow always touched the zero mark right before a big price move up.

A netflow value of zero means the investors taking out their coins from exchanges are balanced by those putting them in.

Related Reading | Bitcoin Futures ETF Exceeds Expectations, Trades $1 Billion On Day One

This trend seems to have been followed during the bull run earlier in the year, and so far the current rally has also followed it.

Right now, the netflow is right at zero, which makes the current point suitable for making another big move up. And it seems to have already begun as…

BTC Price Makes New All-Time High!

Bitcoin has reached a new ATH today as the crypto trades at $66k at the time of writing. The below chart shows the trend in the price of BTC over the last 24 hours.

Related Reading | Ethereum Breaks $4,000, All-Time High Unavoidable?

Bitcoin Price Chart

BTC breaks past $65k to make a new ATH | Source: BTCUSD on TradingView

Bitcoin is now heading into unknown territories as every move up now will result in a new ATH to be reached. Knowledge of past bull runs hints that the volatility will probably shoot up now and the crypto will experience wilder price swings. And if the netflows are anything to go by, BTC looks ready to explode from this point.

Featured image from Unsplash.com, charts from TradingView.com, CryptoQuant.com

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The New Jersey Crypto News
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Ripple
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    • All Alt Coin
  • Learn
    • Learn

      How to Trade Futures Contracts on Changelly PRO

      11/14/2021

      Learn

      EtherLite (ETL) Cryptocurrency Price Prediction

      11/12/2021

      Learn

      How to Trade Bitcoin Futures

      11/12/2021

      Learn

      How to Start Trading Cryptocurrency

      10/21/2021

      Learn

      How to Create Your Own Cryptocurrency

      10/13/2021

  • Analysis
    • Analysis

      Bitcoin is Struggling, But It’s Too Early to Say Bulls Have Given Up

      12/29/2021

      Analysis

      Sushi Up 17% Amid DeFi 2.0 Rescue Rumors

      12/29/2021

      Analysis

      Ethereum Recovery Could Soon Fade If ETH Fails To Surpass $4k

      12/28/2021

      Analysis

      Charles Hoskinson Shares Cardano Plans for 2022

      12/28/2021

      Analysis

      Bitcoin Prints Bullish Pattern, Why BTC Could Surge To $50K

      12/27/2021

  • Blockchain
    • Blockchain

      Iran Bans Crypto Mining to Avert Major Blackouts in Winter Season

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