Participants in the cryptocurrency market have resumed the active withdrawal of bitcoins from exchanges. According data from Glassnode.
The #Bitcoin market hovers precariously below $50k, as the bulls, and bears draw their lines in the sand.— glassnode (@glassnode) December 13, 2021
After a significant deleveraging in derivatives markets, onchain data provides insight into the most likely $BTC move.
Read more in The Week Onchainhttps://t.co/1hRY4Swkoz
At the end of the last week, the seven-day moving average of the inflow / outflow of coins to centralized platforms turned negative and ranged from 2113 BTC to 5831 BTC. The last time such values were observed was at the beginning of August.
Earlier, the author of the Stock-to-Flow PlanB model admitted the insolvency of his own “worst” scenario, according to which the rate of the first cryptocurrency was supposed to reach $ 98,000 in November. Before that, Huobi analysts expressed a similar opinion.
In December, the founder of Ark Invest pointed to the buying potential of institutions that could push bitcoin up to $ 550,000.