On-chain data shows the Bitcoin flow from spot exchanges to derivatives exchanges is currently painting a trend that has historically been bullish for the crypto’s price. Bitcoin Spot To Derivatives Exchanges Flow Starts Sharp Decline As pointed out by an analyst in a CryptoQuant post, the BTC spot to derivatives flow may be hinting at a bullish outcome for the crypto. The “spot exchanges to derivatives exchanges flow” is an indicator that measures the total amount of Bitcoin moving from spot wallets to derivatives wallets. When the value of this metric rises, it means a higher number of coins are now being transferred to derivatives exchanges from spot as investors look to open futures positions. In the past, the indicator’s value has usually moved faster whenever the price of the crypto has observed a large decrease. Now, here is a chart that shows the trend in the Bitcoin spot exchanges to derivatives exchanges flow over the last few years: The value of the metric seems to have been observing a sharp decrease in recent weeks | Source: CryptoQuant As you can see in the above graph, the quant has marked the relevant portions of trend of the Bitcoin spot to derivatives flow. It looks like whenever the indicator has observed a sharp increase to high values followed by a plunge, the value of the crypto has started climbing up. Related Reading | When Greed? Bitcoin Market Crushed Under One Full M...
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