CryptoQuant Says Bitcoin, Ether Exchange Inflows Surge
JH Kim
Summary
- CryptoQuant said a surge in exchange inflows of Bitcoin (BTC) and Ether (ETH) is raising the risk of greater market volatility.
- CryptoQuant said warning signs are emerging in exchange deposit flows as BTC tests support at $60,000, adding that daily Bitcoin inflows to exchanges surpassed 50,000 BTC and Ether inflows exceeded 1.25 million ETH.
- CryptoQuant added that altcoin deposits hit their highest level in the past two months, with whale investors appearing to drive the moves and signaling greater volatility.
Forecast Trend Report by Period
CryptoQuant said exchange inflows of Bitcoin and Ether have surged, raising the risk of increased market volatility.
In a post on X on July 2, the on-chain data provider said warning signs are emerging in exchange deposit flows as Bitcoin tests support at $60,000.
Daily Bitcoin inflows to exchanges have surpassed 50,000 BTC, while Ether inflows have exceeded 1.25 million ETH, it wrote. Altcoin deposits also hit their highest level in the past two months.
CryptoQuant added that whale investors appear to be driving the moves, signaling greater volatility.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.