On-chain data shows Bitcoin investors haven’t moved large amounts to exchanges in response to the Russia-Ukraine war (at least for now). Bitcoin Exchange Reserve Doesn’t Spike Up Following The War Breakout Between Russia And Ukraine As pointed out by an analyst in a CryptoQuant post, the BTC reserve hasn’t moved significantly after the news of the Russia-Ukraine war. The “all exchanges reserve” is an indicator that measures the total amount of Bitcoin sitting in wallets of all exchanges. When the value of this metric rises, it means exchanges are receiving net inflows as investors deposit their coins. Such a trend is usually bearish for the price of the crypto as holders generally transfer their coins to exchanges for selling them. On the other hand, a falling reserve implies exchanges are observing more outflows at the moment. This kind of trend can be bullish as holders usually withdraw their coins for hodling purposes. Related Reading | Quant Explains How Bitcoin NUPL Can Help Predict Bull Cycles Now, here is a chart that shows the trend in the Bitcoin exchange reserve over the past few days: Looks like the value of the indicator hasn't seen any significant change over the last day | Source: CryptoQuant As you can see in the above graph, the Bitcoin exchange reserve hasn’t increased that much since the start of the Russia-Ukraine war. The price, though, has still observed a very...
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