BTC, ETH, USDT - Exchanges Inflows And Outflows In The Last Week

By SirK133 | CryptoCat | 10 May 2021


Just a short summary of last weeks crypto flows into and out of exchanges.


For BTC: $16.8B in, $17.3B out, resulting in Net Flow of -$518.6M 

While this trend is not always maintained daily, on a weekly basis it is. Another week where BTC is making itself more scarce on the exchanges.


For ETH: $9.8B in, $11.7B out, resulting in Net Flow of -$2.0B

Now this is some huge outflow, supporting the bullish action seen on the ETH price chart. While the outflow from exchanges was to be expected, the magnitude of this move is a strong bullish signal.


For USDT: $7.7B in, $8.0B out, resulting in Net Flow of -$308.5M

This is a bearish sign, fortunately it seems to be rather balanced, but stay tuned to check if this continues.


As a reminder:
BTC and ETH flowing into exchanges is considered bearish, under the assumption such assets will be sold increasing the supply and pushing the price down.
Opposite is true for flows out of exchanges - it is considered bullish since this limits the supply available for buyers, so should result in prices of BTC and ETH rising.
With USDT directions are reversed. It is a stablecoin so its movement don't reflect on its price (always $1), but inflow of USDT to exchanges is perceived as an increasing demand for other crypto and outflow from exchanges as a bearish sign, since there is less "money" that could potentially buy other crypto. 

May your coins be like cats - eager to climb and unable to come down,
Cryptocat

 

All tips go to cat treats and catnip :) 
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This is not a financial advice – I’m no financial adviser, nor is this a legal advice – although I’m a lawyer. This is no advice at all, seriously, don’t take advice from random cats – the Internet is full of them! DYOR!

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SirK133
SirK133

Lawyer, analyst, crypto enthusiast, gamer, poet. I am interested in everything that makes up our world and how it is related.


CryptoCat
CryptoCat

My cat so often stomps the keyboard while I do my crypto research, I might as well make him a co-host here.

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