On-chain data shows that Bitcoin’s “exchange inflow mean” has observed a spike recently, something that could be bearish for the asset’s value.
Bitcoin Exchange Inflow Mean Has Spiked To High Values
As pointed out by an analyst in a CryptoQuant post, a correction may soon be coming for the cryptocurrency. The “exchange inflow mean” is an indicator that measures the mean amount of Bitcoin that’s currently being deposited into the wallets of all centralized exchanges.
This metric isn’t to be confused with the “exchange inflow,” which tells us the total amount of BTC going to these platforms. While the exchange inflow is useful, it may not provide an accurate picture of the trend being followed across the market, as only a few whales, who transfer huge amounts, can easily skew the metric.
The exchange inflow mean, on the other hand, calculates the amount that the average inflow transaction is moving right now, which gives a better representation of the behavior of the
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