{"id":253202,"date":"2021-05-19T07:27:02","date_gmt":"2021-05-19T04:27:02","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/btc-sinks-below-40k-bitcoin-inflows-to-centralized-exchanges-surge\/"},"modified":"2021-05-19T07:27:02","modified_gmt":"2021-05-19T04:27:02","slug":"btc-sinks-below-40k-bitcoin-inflows-to-centralized-exchanges-surge","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/btc-sinks-below-40k-bitcoin-inflows-to-centralized-exchanges-surge\/","title":{"rendered":"# BTC sinks below $40K, Bitcoin inflows to centralized exchanges surge"},"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-6a264a836da96\" 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-6a264a836da96\" 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-3'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/btc-sinks-below-40k-bitcoin-inflows-to-centralized-exchanges-surge\/#Reasons_to_be_cheerful\" >Reasons to be cheerful<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># BTC sinks below $40K, Bitcoin inflows to centralized exchanges surge <\/strong>&#8221;<br \/>\n<img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDUvZGE3ZjlmYjItOTBjOC00M2QyLThkYTMtMGEzODZhOGI0YzZlLmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-5a136f3a>Bitcoin inflows to centralized exchanges have surged, prompting bearish speculation the crypto markets could be building up to a violent wash-out.<\/p>\n<p>Lex Moskovoski, CIO at Moskovoski Capital, shared data showing that 22,917 BTC was transferred onto centralized exchanges in a single hour on May 18. Moskovoski noted the hourly inflow was the largest since the March 2020 \u201cBlack Thursday\u201d crash.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">22,917 <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\">#Bitcoin<\/a> in a single hour were deposited to exchanges yesterday.<\/p>\n<p>This hourly inflow is rivaled only by the March, 2020 crash.<\/p>\n<p>People are scared. <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/uH4lBL6Onk\">pic.twitter.com\/uH4lBL6Onk<\/a><\/p>\n<p>\u2014 Lex Moskovski (@mskvsk) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/mskvsk\/status\/1394734259147968513?ref_src=twsrc%5Etfw\">May 18, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>With outflows from exchanges typically being inferred as indicating crypto assets are being moved into cold storage for security or DeFi protocols for yield generation, inflows are interpreted as assets being moved onto centralized platforms to be sold.<\/p>\n<p>Data compiled by on-chain crypto analytics firm Glassnode shows the past two days have seen consecutive all-time highs produced for net transfer volume onto Bitcoin on to leading centralized exchange, Binance. The data was shared by Twitter analyst William Clemente III to his 70,400 followers, triggering bearish price predictions on <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">social media<\/a>.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Largest day of BTC inflows to Binance ever. <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/HG56s37mtv\">pic.twitter.com\/HG56s37mtv<\/a><\/p>\n<p>\u2014 William Clemente III (@WClementeIII) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/WClementeIII\/status\/1394764750660190210?ref_src=twsrc%5Etfw\">May 18, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The chart indicates roughly 35,000 Bitcoin worth more than $1.4 billion has been deposited on Binance in the past 48 hours.<\/p>\n<p>\u201cFeels like capitulation,\u201d <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/danheld\/status\/1394767941212639236\">said<\/a> Kraken\u2019s growth lead, Dan Held. Clemente replied: \u201cLet\u2019s see one final nasty liquidation wick.\u201d <\/p>\n<h3><span class=\"ez-toc-section\" id=\"Reasons_to_be_cheerful\"><\/span>Reasons to be cheerful<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Despite Bitcoin\u2019s price grinding down to post local lows below $40,000, some analysts are finding reasons to be bullish.<\/p>\n<p>Popular analyst, Lark Davis, noted the recent downturn has pushed Bitcoin\u2019s 14-day relative-strength indicator into oversold territory for the first time since March 2020, suggesting the crash may be nearing its plateau.<\/p>\n<p>Others are welcoming capitulation as a likely catalyst for a bullish recovery, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/FreemanHolding\/status\/1394768151498264578\">predicting<\/a> a swift return to upward momentum once selling has become exhausted.<\/p>\n<p>Twitter user \u201cYHRW80\u201d noted surging flows into Bitcoin\u2019s spot and derivatives markets during 2021, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/YHRW80\/status\/1394745736466731010\">concluding<\/a> that the dominant emotion gripping the markets is \u201cgreed\u201d rather than fear. <\/p>\n<p>However, Bitcoin\u2019s Fear and Greed Index disagrees with YHRW80\u2019s analysis, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/alternative.me\/crypto\/fear-and-greed-index\/\">describing<\/a> current Bitcoin market sentiment as \u201cextreme fear.\u201d<\/p>\n<p>There was some welcome <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">news<\/a> today, with Indian media <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/economictimes.indiatimes.com\/tech\/technology\/govt-may-set-up-new-panel-to-study-crypto-regulations\/articleshow\/82746324.cms\">reporting<\/a> the country&#8217;s government is set to rethink its planned crypto ban and form a new panel of experts to explore regulating crypto assets in India. <\/p>\n<p>Some analysts suggest the catalyst for the surging inflows is tomorrow\u2019s looming deadline for controversial stablecoin issuer Tether to disclose its quarterly financial records as part of its settlement with the New York Attorney <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/general\/\" data-internallinksmanager029f6b8e52c=\"3\" title=\"General\" target=\"_blank\" rel=\"noopener\">General<\/a>\u2019s office.<\/p>\n<p>Last week, Tether posted a breakdown of its reserves for the first time, asserting three-quarters of the assets backing its stablecoin are cash, cash equivalents, and other short-term deposits and commercial paper.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\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\/btc-sinks-to-40k-bitcoin-inflows-to-centralized-exchanges-surge\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# BTC sinks below $40K, Bitcoin inflows to centralized exchanges surge &#8221; Bitcoin inflows to centralized exchanges have surged, prompting bearish speculation the crypto markets could be building up to a violent wash-out. Lex Moskovoski, CIO at Moskovoski Capital, shared data showing that 22,917 BTC was transferred onto centralized exchanges in a single hour on&#8230;<\/p>\n","protected":false},"author":1,"featured_media":253203,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDUvZGE3ZjlmYjItOTBjOC00M2QyLThkYTMtMGEzODZhOGI0YzZlLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,74937,36041],"class_list":["post-253202","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-bitcoin-price","tag-tether"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/253202","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=253202"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/253202\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/253203"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=253202"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=253202"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=253202"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}