Bitcoin exchange netflows turn positive for first time since September 21
- —Average netflow rose 4,132 BTC in 10 days to +182 BTC
- —Inflows remain far below the 4,000-5,000 BTC seen in February and June sell-offs
- —BTC at $79,792, down 2.06% in 24 hours and 3.19% on the week
- —Fed held rates at 3.75%-4.00%, with two officials favoring a 25 bps hike
Why it matters: Coins returning to exchanges is an early warning of selling pressure; a break below $80,000 would reinforce the bearish case.
Source: Blockonomi