Is a broader rally forming for Bitcoin as sidelined capital makes its way onto exchanges?
Nearly half a billion in Tether inflows was recorded on April 8 across major Bitcoin (BTC) exchanges, based on Glassnode’s data.Considering that the inflows, the biggest since mid-March, coincided with a minor Bitcoin pullback, it indicates that buyers could be waiting to step in following BTC’s price drop.Stablecoin deposits into exchanges. Source: GlassnodeIs a broader Bitcoin rally brewing?There are two major on-chain metrics that often signal a bigger Bitcoin rally is forming: BTC outflows and stablecoin inflows.Stablecoin inflows occur when traders deposit their sidelined funds to exchanges to buy back into cryptocurrencies.Meanwhile, large BTC outflows typically happen when high-net-worth investors withdraw their Bitcoin from exchanges to self-hosted wallets, which often suggests their intention to hold for the long term. In one
Źródło: https://cointelegraph.com/news/bitcoin-exchanges-just-saw-massive-tether-stablecoin-deposits
