{"id":249480,"date":"2021-05-14T09:43:39","date_gmt":"2021-05-14T06:43:39","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/bitcoin-held-up-very-well-despite-biggest-exchange-inflow-since-march-2020-crash\/"},"modified":"2021-05-14T09:43:39","modified_gmt":"2021-05-14T06:43:39","slug":"bitcoin-held-up-very-well-despite-biggest-exchange-inflow-since-march-2020-crash","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bitcoin-held-up-very-well-despite-biggest-exchange-inflow-since-march-2020-crash\/","title":{"rendered":"# Bitcoin &#8216;held up very well&#8217; despite biggest exchange inflow since March 2020 crash"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a24bfa957339\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a24bfa957339\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-held-up-very-well-despite-biggest-exchange-inflow-since-march-2020-crash\/#Nearly_30000_BTC_hits_exchanges\" >Nearly 30,000 BTC hits exchanges<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-held-up-very-well-despite-biggest-exchange-inflow-since-march-2020-crash\/#Whale_warnings\" >Whale warnings<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># Bitcoin &#8216;held up very well&#8217; despite biggest exchange inflow since March 2020 crash <\/strong>&#8221;<\/p>\n<div class=\"post-content\" data-v-5a136f3a>Bitcoin (BTC) has performed &#8220;very well&#8221; as traders send more coins to exchanges than at any time since the March 2020 crash.<\/p>\n<p>Data from on-chain monitoring resources CryptoQuant and Glassnode shows that BTC exchange inflows hit a one-year high on May 13.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Nearly_30000_BTC_hits_exchanges\"><\/span>Nearly 30,000 BTC hits exchanges<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Bitcoin saw intense pressure from sellers this week as multiple <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">news<\/a> triggers combined to turn many bearish.<\/p>\n<p>Tesla abandoning BTC payments, followed by rumors of an investigation of major exchange Binance by United States regulators, was enough to send BTC\/USD to lows of $46,000 before stabilizing.<\/p>\n<p>As Cointelegraph reported, the dip could have been considerably worse, with longer-term price features providing support at crucial levels.<\/p>\n<p>Nonetheless, $50,000 remains out of reach at the time of writing, as hodlers lick their wounds and assess Bitcoin&#8217;s likely next move.<\/p>\n<p>Data tracking trader behavior reveals the scale of the sell-off and likewise suggests that Bitcoin, in fact, weathered the storm rather well.<\/p>\n<p>Inflows to exchanges hit 30,000 BTC ($1.47 billion) on Thursday, while liquidations totalled $200 million in just one ten-minute period during the height of the price volatility.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-05\/39a1532e-7ce4-44e7-939f-88fcc7a5e395.png\"><figcaption style=\"text-align: center;\"><em>Bitcoin exchange net flows chart. Source: William Clemente\/ <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a><\/em><\/figcaption><\/figure>\n<p>&#8220;Yesterday was the largest day of exchange inflows since the March crash last year,&#8221; analyst William Clemente <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/WClementeIII\/status\/1393030353321877508\/\">summarized<\/a> on Friday.<\/p>\n<blockquote><p>&#8220;BTC held up very well given this and $200M of liquidations in 10 minutes.&#8221;<\/p><\/blockquote>\n<h2><span class=\"ez-toc-section\" id=\"Whale_warnings\"><\/span>Whale warnings<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Inflows to exchanges reflect the desire to sell BTC at short notice. Some may not divest themselves of their holdings for cash, but rather take a stablecoin position and then buy back in once prices stabilize. As such, outflows may soon begin to rise, as panicky investors join those &#8220;buying the dip.&#8221;<\/p>\n<p>Continuing the analysis, however, Ki Young Ju, CEO of CryptoQuant, highlighted whales still sending coins to exchanges more than usual as a potential sign that the bearish phase is not yet over for good.<\/p>\n<p>&#8220;If you&#8217;re a derivative trader, be careful in the short term. (Relatively speaking) whales are depositing <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/search?q=%24BTC&amp;src=cashtag_click\">$BTC<\/a> to exchanges,&#8221; he <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/ki_young_ju\/status\/1393060321099612162\">told<\/a> Twitter followers.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-05\/3f99f2a3-d5bd-44b6-9fdf-b78451392fc2.png\"><figcaption style=\"text-align: center;\"><em>Bitcoin exchange inflows chart. Source: Ki Young Ju\/ Twitter<\/em><\/figcaption><\/figure>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more News articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/bitcoin-held-up-very-well-despite-biggest-exchange-inflow-since-march-2020-crash\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Bitcoin &#8216;held up very well&#8217; despite biggest exchange inflow since March 2020 crash &#8221; Bitcoin (BTC) has performed &#8220;very well&#8221; as traders send more coins to exchanges than at any time since the March 2020 crash. Data from on-chain monitoring resources CryptoQuant and Glassnode shows that BTC exchange inflows hit a one-year high on&#8230;<\/p>\n","protected":false},"author":1,"featured_media":249481,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDUvNWRlZTFkNTItNmZlYS00ZmY2LTk0ZDYtZjk1NGQ5MTE3MGNmLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,74937,73785],"class_list":["post-249480","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-bitcoin-price","tag-markets"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/249480","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=249480"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/249480\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/249481"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=249480"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=249480"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=249480"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}