As Bitcoin Makes New ATH, Netflow Hints BTC Will Explode Here

Name	Symbol	Market	Market Cap ($)	Algorithm
Ethereum	ETHUSD	Crypto	357,373,441,308	Not Mineable

Name

Symbol

Market

Market Cap ($)

Algorithm

Ethereum

ETHUSD

Crypto

357,373,441,308

Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	-5.62	-0.19%	2,962.59	2,963.59	2,963.77

Price Change

Price Change %

Current Price

Bid Price

Offer

-5.62

-0.19%

2,962.59

2,963.59

2,963.77

High Price	Low Price	Open Price	Prev. Close	52 Week Range
3,012.12	2,890.28	2,971.46	2,969.34	1,520.85 - 4,093.88

High Price

Low Price

Open Price

Prev. Close

52 Week Range

3,012.12

2,890.28

2,971.46

2,969.34

1,520.85 - 4,093.88

Exchange	Last Trade	Size	Trade Price	Currency
BSTP	14:47:48	0.067500	2,964.00	USD

Exchange

Last Trade

Size

Trade Price

Currency

BSTP

14:47:48

0.067500

2,964.00

USD

Price x Volume	Volume	Base Symbol	Related Pairs
149,577,089.81	50,718.52	ETH	ETHEUR	ETHGBP	ETHBTC

Price x Volume

Volume

Base Symbol

Related Pairs

149,577,089.81

50,718.52

As Bitcoin Makes New ATH, Netflow Hints BTC Will Explode Here

20/10/2021 8:00pm

NEWSBTC

The history of the Bitcoin netflow indictor may suggest that the current market is ready for the next major price swing up as the crypto makes a new ATH. Bitcoin Netflow Has Historically Approached Zero Before Major Price Upswings As explained by an analyst in a CryptoQuant post, there seems to be a relationship between BTC netflows and price swings upward. The Bitcoin netflow indictor is defined as the difference between the inflows and the outflows, and it shows the net amount of the crypto entering or exiting centralized exchanges. When the metric takes on negative values, it means there are more investors withdrawing their coins compared to those depositing. Sustained such a trend can be bullish for BTC as holders usually take their crypto off exchanges for hodling or selling through OTC deals. On the other hand, when more coins are flowing into exchanges than those flowing out, the netflow shows positive values, which may be bearish as it implies investors are sending their Bitcoin to exchanges for withdrawing to fiat or for buying altcoins. Now, here is a chart that shows the trend in the value of the indicator over the last year: The relation between BTC price and the netflows | Source: CryptoQuant In the above graph, the analyst has marked the behavior of the indicator compared with the Bitcoin price. As is apparent, the netflow always touched the zero mark right before a big price move up. A netflow value of zero means the investors taking out their coins from exchanges are balanced by those putting them in. Related Reading | Bitcoin Futures ETF Exceeds Expectations, Trades $1 Billion On Day One This trend seems to have been followed during the bull run earlier in the year, and so far the current rally has also followed it. Right now, the netflow is right at zero, which makes the current point suitable for making another big move up. And it seems to have already begun as… BTC Price Makes New All-Time High! Bitcoin has reached a new ATH today as the crypto trades at $66k at the time of writing. The below chart shows the trend in the price of BTC over the last 24 hours. Related Reading | Ethereum Breaks $4,000, All-Time High Unavoidable? BTC breaks past $65k to make a new ATH | Source: BTCUSD on TradingView Bitcoin is now heading into unknown territories as every move up now will result in a new ATH to be reached. Knowledge of past bull runs hints that the volatility will probably shoot up now and the crypto will experience wilder price swings. And if the netflows are anything to go by, BTC looks ready to explode from this point. Featured image from Unsplash.com, charts from TradingView.com, CryptoQuant.com

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