Bitcoin exchange inflows have been on the rise recently. Although there was a period where it had tapered off, it had continued to rise once more. The culmination of this has been a massive inflow into various centralized exchanges, presumably for investors to sell off their coins. Now the inflows have hit a new three-month high, painting a rather grim picture for the future of the digital asset.
Inflows Take Over
Bitcoin investors have been dumping their holdings since the digital asset started its descent from its $69,000 all-time high. Although outflows had rivaled inflows, the rate at which BTC was flowing into exchanges remained a cause for alarm.
In a chart posted by Glasnode Alerts, it shows how inflows have been moving in relation