Add as a preferred source on GoogleBitcoin Sees 220,374 BTC Enter Market Absorption Range
Exchange netflows remained negative at 3,863 BTC, indicating buyer demand exceeded selling pressure during the cited period.
The market saw 220,374 BTC enter an absorption range while exchange netflows stood at negative 3,863 BTC during the cited period, indicating that buyer demand exceeded selling pressure.
The figures show more BTC leaving exchanges than entering them, with some funds absorbing available supply.
Although Bitcoin inflows to exchanges were high, withdrawals exceeded deposits, producing a net outflow of 3,863 BTC. The observation was published at 7:51 a.m. ET (11:51 UTC) on Oct. 12.
The latest figures follow earlier reporting on Bitcoin exchange net outflows, a metric used to track the amount of BTC moving off centralized trading platforms.
Enna Lee
ReporterEnna Lee reports on investing and digital-asset markets for TokenPost. Send corrections or tips to info@tokenpost.com.