Bitcoin has set a new all-time high (ATH) beyond the $104,000 mark during the past day, but on-chain data shows investors are still unwilling to sell. Bitcoin Exchange Netflow Has Remained Negative During Latest Rally As explained by an analyst in a CryptoQuant Quicktake post, Bitcoin has continued to leave exchanges recently. The on-chain metric of relevance here is the “Exchange Netflow,” which, as its name suggests, keeps track of the net amount of BTC that’s entering into or exiting out of the wallets attached to centralized platforms. Related Reading: Bitcoin 30-Day Trader Profits Back In ‘Healthy’ Range, Is BTC Ready For $100,000? When the value of this metric is positive, it means the investors are making net deposits to the exchanges. As one of the main reasons why holders use these platforms is for selling-related purposes, this kind of trend can have a bearish implication for BTC. On the other hand, the indicator being negative implies there are a higher amount of exchange outflows happening than inflows. Such a trend can be a sign that the invest ..
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