On-chain data shows the crypto exchange Coinbase Pro has received a large amount of Bitcoin inflows today, a sign that could prove to be bearish for the coin’s price.
Coinbase Pro Observes Bitcoin Exchange Inflows Of About 3.5k BTC
ដូចដែលបានចង្អុលបង្ហាញដោយអ្នកវិភាគនៅក្នុងគ្រីបតូក្វាន់ ក្រោយ, Coinabse Pro has today received big inflows from supply not moved since at least six months ago.
"លំហូរចូលនៃការផ្លាស់ប្តូរ” is an indicator that measures the total amount of Bitcoin moving into wallets of a centralized exchange (which, in this case, is Coinbase Pro).
When the value of this metric spikes up, it means a large number of coins are entering into the exchange’s wallets right now.
Such a trend can be bearish for the crypto’s price as investors usually deposit their coins to exchanges for selling purposes.
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Prolonged large inflows can be a sign of dumping from whales. On the other hand, low values of the indicator suggest a normal amount of selling is going on in the market right now.
This kind of trend can be either bullish, or neutral for Bitcoin, depending on whether investors are also withdrawing their coins or not.
Now, here is a chart that shows the trend in the BTC inflows for Coinbase over the past few months:
Looks like the value of the indicator has been elevated recently | Source: គ្រីបតូក្វាន់
As you can see in the above graph, the Coinbase Pro Bitcoin exchange inflows for the different age groups is shown.
“Age” here corresponds to how many days the investors who deposited these coins had been holding their BTC for.
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It seems like the inflows had a spike on the exchange today, and the largest contribution was from holders belonging to the 6 to 12 months cohort.
Around 3.1k BTC was deposited by this group over the last 24 hours, with a further 200 BTC each coming from the 12-18 months and 3-5 years cohorts.
This kind of selling from អ្នកកាន់រយៈពេលវែង may imply that Bitcoin could see some more decline in the near future.
តម្លៃ BTC
នៅពេលសរសេរ។ តម្លៃរបស់ Bitcoin អណ្តែតនៅជុំវិញ $21k ធ្លាក់ចុះ 1% ក្នុងរយៈពេលប្រាំពីរថ្ងៃចុងក្រោយនេះ។ ក្នុងរយៈពេលមួយខែកន្លងមកនេះ គ្រីបតូបានបាត់បង់តម្លៃ 26%។
ខាងក្រោមនេះគឺជាតារាងដែលបង្ហាញពីនិន្នាការនៃតម្លៃកាក់ក្នុងរយៈពេលប្រាំថ្ងៃចុងក្រោយនេះ។
The value of the crypto seems to have bee moving sideways during the last few days | Source: BTCUSD ស្តីពី TradingView
Featured image from paul silvan on Unspash.com, charts from TradingView.com, CryptoQuant.com
Source: https://bitcoinist.com/bitcoin-bearish-signal-coinbase-large-inflows/