{"id":413227,"date":"2022-03-08T05:12:33","date_gmt":"2022-03-08T02:12:33","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/total-exchange-btc-inflows-have-been-net-negative-since-july-21\/"},"modified":"2022-03-08T05:12:33","modified_gmt":"2022-03-08T02:12:33","slug":"total-exchange-btc-inflows-have-been-net-negative-since-july-21","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/total-exchange-btc-inflows-have-been-net-negative-since-july-21\/","title":{"rendered":"# Total exchange BTC inflows have been net negative since July &#8217;21"},"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-6a2c2d2fe79af\" 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-6a2c2d2fe79af\" 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-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/total-exchange-btc-inflows-have-been-net-negative-since-july-21\/#%E2%80%9D_Total_exchange_BTC_inflows_have_been_net_negative_since_July_21_%E2%80%9C\" >&#8221; Total exchange BTC inflows have been net negative since July &#8217;21 &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Total_exchange_BTC_inflows_have_been_net_negative_since_July_21_%E2%80%9C\"><\/span>&#8221; Total exchange BTC inflows have been net negative since July &#8217;21 &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div class=\"post-content\" data-v-128018ef>Bitcoin inflows across all exchanges have been net negative since last July, but four major exchanges have been running contrary to this trend with nearly an equal amount of net positive inflows.<\/p>\n<p>There have been total net outflows of 46,000 BTC (worth around $1.8 billion at current prices) from all crypto exchanges since last July.<\/p>\n<p>Only Binance, Bittrex, Bitfinex, and FTX have seen net positive inflows of 207,000 Bitcoin (BTC), according to data from blockchain analytics firm Glassnode\u2019s March 7 <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/insights.glassnode.com\/the-week-onchain-week-10-2022\/\">newsletter<\/a>. Over the same time period, net outflows have totaled 253,000 BTC from all other exchanges tracked.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-03\/c43e6f3a-7fd6-4191-95fc-e1c99fec1908.png\"><figcaption style=\"text-align: center;\">FTX, Binance, Bittrex, and Bitfinex have seen net positive inflows of BTC since July, 2021 &#8211; Glassnode<\/figcaption><\/figure>\n<p>FTX and Huobi have experienced the most dramatic shift in their BTC holdings since last July. Whereas FTX has more than <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/trip-and-travel\/\" data-internallinksmanager029f6b8e52c=\"10\" title=\"Trip &amp; Travel\" target=\"_blank\" rel=\"noopener\">trip<\/a>led the amount of BTC it holds to 103,200 today, Huobi\u2019s holdings have dwindled to just 12,300 BTC, or around 6% of what it held, from over 400,000 BTC in March 2020.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-03\/5a97835f-4b75-411f-aead-b1ffd4a681ff.png\"><figcaption style=\"text-align: center;\">Most exchanges have seen net negative inflows of BTC since July, 2021 &#8211; Glassnode<\/figcaption><\/figure>\n<p>Net outflows have been consistent since last year, with a few major spikes occurring in August and most recently on Jan. 11.<\/p>\n<p>However, Glassnode attributes the current relatively low inflows to \u201cthe scale of market uncertainty at present,\u201d and suggests that the crypto trading market, in <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/general\/\" data-internallinksmanager029f6b8e52c=\"3\" title=\"General\" target=\"_blank\" rel=\"noopener\">general<\/a>, has shifted to derivatives trading over spot sells in order to hedge risk. <\/p>\n<p>Exchange inflows are measured to help give a better understanding of whether investors are preparing to liquidate or hodl their coins. Net inflows s incoming selling pressure whereas net outflows suggests more hodling.<\/p>\n<p>The coins that remain on-chain maintain a realized price of $24,100 per BTC, suggesting most hodlers enjoy a profit margin of 63%. Realized price is the average price of all coins when they were moved on-chain. <\/p>\n<p>The realized price contrasts with an implied price of $39,200. The implied price is an estimated fair value price per coin and is currently just below break-even as BTC was trading at $38,346 at the time of writing according to <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.coingecko.com\/en\/coins\/bitcoin\">CoinGecko<\/a>. <\/p>\n<p>Right now, short-term holders are underwater by about 15% as the average price of coins that have moved on-chain in the last 155 days is $46,400 according to Glassnode.<\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>Bitcoin price rejection at $39K and mounting regulatory concerns tank the market again<\/em><\/strong><\/p>\n<p>In addition to the low volume of inflows and outflows is the profit and loss (PnL) ratio of sellers which has been demonstrably flattening since the beginning of 2021. Glassnode suggests that long-term holders (LTH) are growing tired of selling even though \u201cwe are yet to see a major LTH capitulation event as was seen at previous cyclical bottoms.\u201d It added:<\/p>\n<blockquote><p>\u201cThe historically low magnitude of both STH and LTH losses may be signaling increasing probabilities of aggregate seller exhaustion.\u201d<\/p><\/blockquote>\n<p>The <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">news<\/a>letter warns that there still remains the risk of a \u201cfinal and complete capitulation of both STH and LTH\u201d which has h<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>ened at the bottom of previous cycle bottoms.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template>\n<\/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\/total-exchange-btc-inflows-have-been-net-negative-since-july-21\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Total exchange BTC inflows have been net negative since July &#8217;21 &#8220; Bitcoin inflows across all exchanges have been net negative since last July, but four major exchanges have been running contrary to this trend with nearly an equal amount of net positive inflows. There have been total net outflows of 46,000 BTC (worth&#8230;<\/p>\n","protected":false},"author":1,"featured_media":413228,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDMvYTAwZThjZTAtYjMzNy00ZTJiLTg0YTQtYTFkZDY2NGQ1M2FhLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,81951,74937],"class_list":["post-413227","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-bitcoin-analysis","tag-bitcoin-price"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/413227","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=413227"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/413227\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/413228"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=413227"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=413227"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=413227"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}