{"id":337875,"date":"2023-08-24T01:00:34","date_gmt":"2023-08-23T19:30:34","guid":{"rendered":"https:\/\/ambcrypto.com\/?p=337875"},"modified":"2023-08-23T17:18:53","modified_gmt":"2023-08-23T11:48:53","slug":"between-inflows-and-outflows-is-bitcoin-awaiting-a-sell-off","status":"publish","type":"post","link":"https:\/\/ambcrypto.com\/between-inflows-and-outflows-is-bitcoin-awaiting-a-sell-off\/","title":{"rendered":"Between inflows and outflows, is Bitcoin awaiting a sell-off?"},"content":{"rendered":"<ul>\n<li><em><span style=\"font-weight: 400;\">Bitcoin saw a significant inflow recently that reached a monthly high.<\/span><\/em><\/li>\n<li><em><span style=\"font-weight: 400;\">Despite this, BTC outflow still dominated the exchange flow.<\/span><\/em><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Bitcoin [BTC] has recently gained significant attention, primarily because of its ongoing downward price trend. In light of this downtrend, recent data indicates that the amount of Bitcoin deposited into exchanges reached a monthly peak. But how does this influx compare to the outflow of Bitcoin from exchanges?<\/span><\/p>\n<hr \/>\n<p style=\"text-align: center;\">Read <a href=\"http:\/\/ambcrypto.com\/predictions\/bitcoin-price-prediction\" target=\"_blank\" rel=\"noopener\">Bitcoin (BTC) Price Prediction<\/a> 2023-24<\/p>\n<hr \/>\n<h4><b>Between Bitcoin inflow and outflow<\/b><\/h4>\n<p><span style=\"font-weight: 400;\">A recent update from <a href=\"https:\/\/twitter.com\/glassnodealerts\/status\/1694126218784752015?s=19\" target=\"_blank\" rel=\"noopener\">Glassnode Alerts<\/a> highlighted that the inflow of <a href=\"http:\/\/ambcrypto.com\/why-bitcoins-short-term-holders-are-crucial-to-determining-the-next-rally\/\" target=\"_blank\" rel=\"noopener\">Bitcoin<\/a> into all exchanges reached a new monthly peak on 22 August. Then, the recorded inflow surpassed 1,300. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Expanding the analysis, a comprehensive overview of the cumulative inflow volume, according to Glassnode, revealed that the overall inflow exceeded 32,000. These figures would naturally imply a substantial influx of BTC into exchanges, indicating a potential sell-off.<\/span><\/p>\n<figure id=\"attachment_337904\" aria-describedby=\"caption-attachment-337904\" style=\"width: 1800px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/08\/glassnode-studio_bitcoin-total-transfer-volume-to-exchanges-btc-all-exchanges-7d-moving-average.png\"><img decoding=\"async\" class=\"wp-image-337904 size-full\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/08\/glassnode-studio_bitcoin-total-transfer-volume-to-exchanges-btc-all-exchanges-7d-moving-average.png\" alt=\"Bitcoin inflow volume\" width=\"1800\" height=\"1013\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/08\/glassnode-studio_bitcoin-total-transfer-volume-to-exchanges-btc-all-exchanges-7d-moving-average.png 1800w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/08\/glassnode-studio_bitcoin-total-transfer-volume-to-exchanges-btc-all-exchanges-7d-moving-average-300x169.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/08\/glassnode-studio_bitcoin-total-transfer-volume-to-exchanges-btc-all-exchanges-7d-moving-average-1024x576.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/08\/glassnode-studio_bitcoin-total-transfer-volume-to-exchanges-btc-all-exchanges-7d-moving-average-768x432.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/08\/glassnode-studio_bitcoin-total-transfer-volume-to-exchanges-btc-all-exchanges-7d-moving-average-1536x864.png 1536w\" sizes=\"(max-width: 1800px) 100vw, 1800px\" \/><\/a><figcaption id=\"caption-attachment-337904\" class=\"wp-caption-text\">Source: Glassnode<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">However, gaining a more comprehensive perspective required examining the outflow volume. According to the outflow volume data from Glassnode, as of this writing, the outflow exceeded 33,000. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">This signified a minor upturn in the outflow in comparison to the inflow. The implication here is that there appeared to be a state of equilibrium between the inflow and outflow presently, debunking the narrative of a widespread sell-off.<\/span><\/p>\n<figure id=\"attachment_337906\" aria-describedby=\"caption-attachment-337906\" style=\"width: 1800px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/08\/glassnode-studio_bitcoin-total-transfer-volume-from-exchanges-btc-all-exchanges.png\"><img decoding=\"async\" class=\"wp-image-337906 size-full\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/08\/glassnode-studio_bitcoin-total-transfer-volume-from-exchanges-btc-all-exchanges.png\" alt=\"Bitcoin outflow volume\" width=\"1800\" height=\"1013\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/08\/glassnode-studio_bitcoin-total-transfer-volume-from-exchanges-btc-all-exchanges.png 1800w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/08\/glassnode-studio_bitcoin-total-transfer-volume-from-exchanges-btc-all-exchanges-300x169.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/08\/glassnode-studio_bitcoin-total-transfer-volume-from-exchanges-btc-all-exchanges-1024x576.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/08\/glassnode-studio_bitcoin-total-transfer-volume-from-exchanges-btc-all-exchanges-768x432.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/08\/glassnode-studio_bitcoin-total-transfer-volume-from-exchanges-btc-all-exchanges-1536x864.png 1536w\" sizes=\"(max-width: 1800px) 100vw, 1800px\" \/><\/a><figcaption id=\"caption-attachment-337906\" class=\"wp-caption-text\">Source: Glassnode<\/figcaption><\/figure>\n<h4><b>Analyzing the Bitcoin netflow<\/b><\/h4>\n<p><span style=\"font-weight: 400;\">Examining the netflow chart provided by Glassnode offered a more distinct insight into the dynamics of the <a href=\"http:\/\/ambcrypto.com\/bitcoin-exploring-sub-20k-price-possibility-amid-rate-hikes\/\" target=\"_blank\" rel=\"noopener\">Bitcoin<\/a> movement throughout all exchanges. The chart displayed a prevailing pattern of BTC outflow starting from approximately 18 August. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">This observation pointed out that, despite the ongoing downward trend, more BTC were departing from the exchanges daily than the amount deposited.\u00a0<\/span><\/p>\n<figure id=\"attachment_337908\" aria-describedby=\"caption-attachment-337908\" style=\"width: 1800px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/08\/glassnode-studio_bitcoin-net-transfer-volume-from-to-exchanges-btc-all-exchanges-1.png\"><img decoding=\"async\" class=\"wp-image-337908 size-full\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/08\/glassnode-studio_bitcoin-net-transfer-volume-from-to-exchanges-btc-all-exchanges-1.png\" alt=\"Bitcoin netflow\" width=\"1800\" height=\"1013\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/08\/glassnode-studio_bitcoin-net-transfer-volume-from-to-exchanges-btc-all-exchanges-1.png 1800w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/08\/glassnode-studio_bitcoin-net-transfer-volume-from-to-exchanges-btc-all-exchanges-1-300x169.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/08\/glassnode-studio_bitcoin-net-transfer-volume-from-to-exchanges-btc-all-exchanges-1-1024x576.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/08\/glassnode-studio_bitcoin-net-transfer-volume-from-to-exchanges-btc-all-exchanges-1-768x432.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/08\/glassnode-studio_bitcoin-net-transfer-volume-from-to-exchanges-btc-all-exchanges-1-1536x864.png 1536w\" sizes=\"(max-width: 1800px) 100vw, 1800px\" \/><\/a><figcaption id=\"caption-attachment-337908\" class=\"wp-caption-text\">Source: Glassnode<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">This breakdown of the initially assessed total inflow and outflow volumes verified the lack of a frantic selling scenario, at least for now.<\/span><\/p>\n<h4><b>BTC hits four-month RSI low<\/b><\/h4>\n<p><span style=\"font-weight: 400;\">Examining the daily timeframe chart of <a href=\"http:\/\/ambcrypto.com\/has-bitcoin-btc-bottomed-out-in-oversold-territory\/\" target=\"_blank\" rel=\"noopener\">Bitcoin<\/a> revealed an ongoing downtrend that displayed no signs of abating. Bitcoin has experienced nine consecutive days of declining prices as of this writing. Its current trading value hovered around $26,130, with the price decrease registering at less than 1%.\u00a0<\/span><\/p>\n<figure id=\"attachment_337910\" aria-describedby=\"caption-attachment-337910\" style=\"width: 1793px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/08\/BTCUSD_2023-08-23_11-28-51.png\"><img decoding=\"async\" class=\"wp-image-337910 size-full\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/08\/BTCUSD_2023-08-23_11-28-51.png\" alt=\"BTC\/USD price move\" width=\"1793\" height=\"707\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/08\/BTCUSD_2023-08-23_11-28-51.png 1793w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/08\/BTCUSD_2023-08-23_11-28-51-300x118.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/08\/BTCUSD_2023-08-23_11-28-51-1024x404.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/08\/BTCUSD_2023-08-23_11-28-51-768x303.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/08\/BTCUSD_2023-08-23_11-28-51-1536x606.png 1536w\" sizes=\"(max-width: 1793px) 100vw, 1793px\" \/><\/a><figcaption id=\"caption-attachment-337910\" class=\"wp-caption-text\">Source: TradingView<\/figcaption><\/figure>\n<hr \/>\n<p style=\"text-align: center;\">How much are 1,10,100 BTCs worth today<\/p>\n<hr \/>\n<p><span style=\"font-weight: 400;\">Also, the Relative Strength Index (RSI) indicated an oversold status as of this writing. Notably, this marked the first instance in over four months that BTC had reached such a level on its RSI. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Despite the challenging circumstances, a silver lining emerged in the present price level, which offered a potential price correction opportunity.<\/span><\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Amidst Bitcoin&#8217;s downward journey, its exchange dynamics puzzle observers. Inflows surge but outflows balance. A rare RSI low beckons hope.<\/p>\n","protected":false},"author":76,"featured_media":337915,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"footnotes":""},"categories":[35,360,66,3,4,20],"tags":[],"class_list":["post-337875","post","type-post","status-publish","format-standard","has-post-thumbnail","category-bitcoin-news","category-btc-trading-view","category-new-news","category-news","category-social","category-trading-view"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.3) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Between inflows and outflows, is Bitcoin awaiting a sell-off? - AMBCrypto<\/title>\n<meta name=\"description\" content=\"Bitcoin has been plagued with a downtrend in price recently, but the outflow volume has remained relatively strong.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-image-preview:large\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ambcrypto.com\/between-inflows-and-outflows-is-bitcoin-awaiting-a-sell-off\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Between inflows and outflows, is Bitcoin awaiting a sell-off? - AMBCrypto\" \/>\n<meta property=\"og:description\" content=\"Amidst Bitcoin&#039;s downward journey, its exchange dynamics puzzle observers. 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