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What Bitcoin flows tell you about whether it’s time to buy or sell
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With Bitcoin struggling to keep its grip on the $42k-bar, you might guess that the bulls are feeling listless while the bears have a field day. At press time, the king coin was changing hands at $42,275 after falling by 1.02% in 24 hours and losing 8.51% of its value over the week. So, are investors buying or selling?
Some coin flows might reveal the answer.
Though the last few days have seen a mix of Bitcoin entering and exiting the exchanges, Glassnode’s weekly data revealed that overall, the king coin has been disappearing into wallets.
Data from 11 April showed that net outflows were about $229.9 million, even though more than $6 billion both entered and exited the exchanges over the past week.
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