Bitcoin Price To Skyrocket: Exchange Inflow/Outflow Ratio Signals Strong Buying Pressure

The post Bitcoin Price To Skyrocket: Exchange Inflow/Outflow Ratio Signals Strong Buying Pressure appeared first on Coinpedia Fintech News

Bitcoin’s price has yet to recover from the recent drop, consolidating around $60k without a clear indication of its future direction. However, there are some signs that it could see a major rise with the current Bitcoin exchange inflow-outflow ratio hinting a strong buying pressure. 

According to Axel Adler Jr., a verified author from CryptoQuant, recent data shows that the average Exchange Inflow/Outflow ratio for Bitcoin has surged, signaling robust buying activity. This notable shift is the 6th occurrence of such a pattern in the past decade. 

The average Exchange Inflow/Outflow ratio indicates strong buying pressure. This is the sixth time this has happened in the last ten years.

Retail investors, of course, won't react, they will enter when the price is above $70K. pic.twitter.com/WWzqKa776E