#Bitcoin $BTC Exchange Inflow Volume (7d MA) just reached a 3-month high of 1,755.021 BTC
Previous 3-month high of 1,729.605 BTC was observed on 08 May 2022
View metric:
https://studio.glassnode.com/metrics?a=BTC&m=transactions.TransfersVolumeToExchangesSum&mAvg=7
The price of bitcoin has started to fall since on the 07th, yesterday was just the continuation of a massive fall. Bitcoin whales are reducing and the exchanges inflow has been on the high since 3 months ago. Inflow means that whales and other people that have bitcoin on wallet are moving it to exchanges. Whales prefer cold wallets, they do not leave coins on exchanges, they are mostly doing it to sell and bitcoin price fall.
https://studio.glassnode.com/metrics?a=BTC&m=transactions.TransfersVolumeToExchangesSum&mAvg=7
This means whales are selling which result to panic selling. But can this indicate that more bitcoin would still be sold in a way the dip would be below $30000? Bitcoin is around $32800 presently but the market is still bearish.