We’re still in the low $19Ks this morning and hopefully soon we’ll some some major upward movement

Bitcoin Exchange Outflows Suggest Market Is In Full Accumulation Mode

“Over the past week, the bitcoin exchange outflows have been ramping up. They had continued to surpass daily inflows, leading to negative net flows across centralized exchanges. Primarily, this accumulation trend had been led by whales, wherein a single instance, a bitcoin whale had added about 5,000 BTC to their holdings in a matter of weeks.

The combined figures for inflows and outflows in centralized exchanges also speak to this. For the last seven days, there was a total of $3.4 billion in BTC that flowed into exchanges where the outflows came out to $4.9 billion. This means that a net negative flow of $1.4 billion for the week.”

Later in the article –

“This metric can often point to if investors are looking to hold their coins or follow the sell trend. When the active supply is low, investors are not selling their coins. When it starts to climb, it shows that sell-offs are in full bloom.

Given that this has hit a new all-time high of 65.977%, it is hard to tell if the accumulation trend would be enough to help prop up the price of bitcoin. However, peaks like these have historically preceded a rise in price for BTC, sparking some hope for the digital asset.”

https://bitcoinist.com/bitcoin-market-is-in-full-accumulation-mode/