Bitcoin exchanges are seeing inflows associated with the price action

In the last 24 hours Bitcoin price action retreated by an estimated -1.4% in this scenario Bitcoin Exchanges are seeing inflows associated with the price action, this if we take into consideration that Bitcoin flows to exchanges fall to lows after peaks of USD 74k.

In this regard and according to "Figures from on-chain analytics platform CryptoQuant show that daily BTC inflows have declined significantly from Bitcoin's all-time highs of USD 73,800."

According to CryptoQuant, April and May 2024 have seen some of the lowest daily inflows to major exchange accounts in the last ten years, while on April 20, when the BTC/USD pair was around the same levels as at the time of writing, only 8,400 BTC flowed into exchanges.

It has been noted that, "The figures reflect a significant shift in investor sentiment this year as Bitcoin investing enters a new era of institutional participation."

According to CryptoQuant contributor Mignolet, "Whales in the 1k to 10k range, which normally provide significant bearish volatility to the market, have not been consistently participating in this current uptrend cycle"

Cointelegraph. Bitcoin exchange inflows drop to 10-year lows after $74K all-time highs. Link

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