• Bitcoin saw a significant inflow recently that reached a monthly high.
• Despite this, BTC outflow still dominated the exchange flow.

Bitcoin [BTC] has recently gained significant attention, primarily because of its ongoing downward price trend. In light of this downtrend, recent data indicates that the amount of Bitcoin deposited into exchanges reached a monthly peak. But how does this influx compare to the outflow of Bitcoin from exchanges?

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Between Bitcoin inflow and outflow

A recent update from Glassnode Alerts highlighted that the inflow of Bitcoin into all exchanges reached a new monthly peak on 22 August. Then, the recorded inflow surpassed 1,300.

Expanding the analysis, a comprehensive overview of the cumulative inflow volume, according to Glassnode, revealed that the overall inflow exceeded 32,000. These figures would naturally imply a substantial influx of BTC into exchanges, indicating a potential sell-off.

However, gaining a more comprehensive perspective required examining the outflow volume. According to the outflow volume data from Glassnode, as of this writing, the outflow exceeded 33,000.

This signified a minor upturn in the outflow in comparison to the inflow. The implication here is that there appeared to be a state of equilibrium between the inflow and outflow presently, debunking the narr

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Author: Adewale Olarinde

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