On-chain data shows a large amount of USDC inflows have just hit exchanges, a potential sign that investors are looking to buy the Bitcoin dip.
USDC Exchange Inflow Has Registered Multiple Spikes Recently
As explained by CryptoQuant community analyst Maartunn in a new post on X, the USDC Exchange Inflow has shot up recently. The “Exchange Inflow” here refers to an indicator that keeps track of the total amount of a given asset that’s being transferred to wallets connected with centralized exchanges.
Generally, investors deposit their coins to these platforms when they want to trade them away. As such, whenever the Exchange Inflow spikes, it can be a sign that there is demand for selling the asset.
Such a trend can naturally be bearish for Bitcoin and other volatile cryptocurrencies. When it comes to stablecoins, however, trading has no effect on their price, as they are, by definition, stable around the fiat currency that they are pegged to.
This doesn’t mean that
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