On-chain data shows exchanges have received a huge Bitcoin inflow spike from long-term holders, a sign that could be bearish for the price of the crypto. Investors Holding Bitcoin Since 12 Months To 18 Months Ago Transfer A Huge Amount To Exchanges As pointed out by an analyst in a CryptoQuant post, some long-term investors holding on to their coins since between a year to a year and a half recently sent big inflows to exchanges. The relevant indicator here is the “exchange inflow,” which measures the total amount of Bitcoin moving to centralized exchange wallets. When the value of this indicator shows a large spike, it means investors have just deposited a lot of coins to exchanges. Such a trend is usually bearish for the price of the crypto as holders usually transfer to exchanges for selling purposes. On the other hand, small values of the metric may show normal market behavior and that there isn’t largescale dumping going on at the moment. Related Reading | Bitcoin Taker Buy/Sell Volume Shows “Buy” Signal As BTC Gears Up For Rally A modified version of the Bitcoin exchange inflow shows only transfers from those investors who had been holding on their coins since 12 months to 18 months ago. Here is the chart for it: Looks like a large amount of coins were deposited by these long-term holders recently | Source: CryptoQuant As you can see in the above graph, the value of the indicator o...
