📢 [Analysis] There are a large number of Bitcoin deposits on major exchanges, is there a strong short-term bearish trend?

According to a report by cryptocurrency analysis platform CryptoQuant, large Bitcoin (BTC) deposits are increasing on major cryptocurrency exchanges, and the possibility of a short-term bearish trend is rising.

More than 15,000 BTC have been deposited into major exchanges, showing continued selling pressure in the spot market.

Increased outflows from stablecoins such as Tether (USDT) generally indicate reduced capital inflows into the cryptocurrency market.

CryptoQuant analyst Onatt said that despite the recent plunge, Bitcoin prices may fall further in the short term.

However, from a macroeconomic perspective, the prospects for a long-term bear market are unclear.

A decrease in stablecoin circulation generally indicates a decrease in capital in the market, which further exacerbates selling pressure in the market.