CryptoQuant analyst Axel Adler said the market absorbed 220,374 BTC last week, while exchange netflow remained negative at -3,863 BTC. According to Adler, Bitcoin inflows to exchanges were still relatively high, but the net outflow figure suggested that buyer demand continued to outweigh selling pressure. He said the data indicated that part of the capital in the market was absorbing available supply. The update points to continued demand on the buy side, based on the exchange flow figures cited in the note.
ChainCatcher reported that CryptoQuant analyst Axel Adler said the market absorbed 220,374 BTC last week, while exchange netflow stayed negative at -3,863 BTC.
Adler said that although Bitcoin inflows to exchanges remained at a relatively high level, the net outflow data showed that buyer demand was still stronger than selling pressure, indicating that part of the capital in the market was absorbing available supply.
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