Outflows Rock Bitcoin, Ethereum In Wake Of Price Decline

Name	Symbol	Market	Market Cap ($)	Algorithm
Tether USD	USDTUSD	Crypto	97,841,827,649	Not Mineable

Name

Symbol

Market

Market Cap ($)

Algorithm

Tether USD

USDTUSD

Crypto

97,841,827,649

Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	0.00	0.00%	1.00	1.00	1.00

Price Change

Price Change %

Current Price

Bid Price

Offer

0.00

0.00%

1.00

High Price	Low Price	Open Price	Prev. Close	52 Week Range
1.00	0.99999	1.00	1.00	0.972760 - 1.40

High Price

Low Price

Open Price

Prev. Close

52 Week Range

1.00

0.99999

1.00

0.972760 - 1.40

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	22:38:08	199.94	1.00	USD

Exchange

Last Trade

Size

Trade Price

Currency

GDAX

22:38:08

199.94

1.00

USD

Price x Volume	Volume	Base Symbol	Related Pairs
419,367,511.88	419,196,247.72	USDT	USDTEUR	USDTGBP	USDTBTC

Price x Volume

Volume

Base Symbol

Related Pairs

419,367,511.88

419,196,247.72

Outflows Rock Bitcoin, Ethereum In Wake Of Price Decline

14/04/2022 12:00am

NEWSBTC

Bitcoin and Ethereum had led the market in the recent price decline. It has led to a lot of profit-taking on the part of investors that want to avoid incurring more losses in the long term. Nevertheless, investors remain undeterred as they continue to accumulate coins. The result of this has been intense outflows for both Bitcoin and Ethereum leading to a negative net flow for both digital assets. Bitcoin, Ethereum Investors Not Backing Down Bitcoin slid down below $40,000 at the start of the week and brought with it a wave of long liquidations. These prices have seen sentiment turn mostly negative in the meantime but for those who are accumulating, it has been a good time to increase their bags and the exchange outflows corroborate this. Related Reading | TA: Ethereum Steadies Above $3K, Why Upsides Could be Capped For the past day, exchange outflows have surpassed that of inflows by more than $200 million. It has come out to $1.1 billion in bitcoin being moved out of centralized exchanges while inflows remain at $886.4 million for the same time period. The same trend was the case for the second-largest cryptocurrency by market cap, Ethereum. Outflows had also come out ahead of inflows by more than $70 million. In total, there was $658.2 million worth of inflows and outflows went as high as $729.2 million. 📊 Daily On-Chain Exchange Flow#Bitcoin $BTC➡️ $886.4M in⬅️ $1.1B out📉 Net flow: -$236.2M#Ethereum $ETH➡️ $658.2M in⬅️ $729.2M out📉 Net flow: -$70.9M#Tether (ERC20) $USDT➡️ $816.5M in⬅️ $648.4M out📈 Net flow: +$168.0Mhttps://t.co/dk2HbGwhVw — glassnode alerts (@glassnodealerts) April 13, 2022 Tether Says More Accumulation The amount of Tether that flowed into exchanges compared to that which flowed out also supports investors are continuing the accumulation trend. Mostly when investors are moving their Tether to exchanges, it is so they can purchase cryptocurrencies, a large portion of which ends up going to Bitcoin and Ethereum. Related Reading | How Shiba Inu Soared 20% On Robinhood Listing, Watch Out For Volatility $816.5 million were moved into centralized exchanges over the past day and $648.4 million were moved out. This saw a positive net flow of $168 million worth of Tether moving into exchanges. It follows the same trend from the previous day which had seen bitcoin record a negative net flow of -$45.4 million for bitcoin and -$74.4 million for Ethereum. Tether had also recorded a positive net flow of $132.3 million, indicating that investors are accumulating through the downtrend. BTC loses footing above $40,000 | Source: BTCUSD on TradingView.com Featured image from US News Money, chart from TradingView.com

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