#BTC #On-chain Analysis Summary For 15/03/2023

Source:CryptoQuant

This chart depicts the Price action of #BTC vs All Exchange Reserves.

#On-chain #Analysis

Source: CryptoQuant

A net outflow of 18,828 Bitcoins occurred from the exchanges yesterday (March 28, 2024) alone. But what is the reason?

Following the approval of Bitcoin Spot ETF, net BTC outflows from exchanges continue to increase.

⚠️ A net outflow of over 10K was achieved 6 times.

A total of more than 10 thousand Bitcoins exited from all exchanges (CEX and DEX) on 6 different days in 2024.

Following the spot ETF approval, the most intense color in Bitcoin net outflow was red (buyers are strong). So much so that we witnessed a net Bitcoin outflow of 14K, 18K, 20K, 12K, 14K on 6 different days, respectively, and finally 18,828 yesterday. It would not be wrong to associate these with corporate purchases (I will prepare a detailed article in the future).

After such a large amount of Bitcoin outflows, we can expect the supply shock to continue to increase (but first, necessary liquidations must be made on the leverage side) and it would not be wrong to expect serious increases.

✅ Result

Bitcoin is the only asset in limited supply that central banks cannot claim.

We can foresee that interest in Bitcoin will increase with the start of the global interest rate cut cycle in the near future. Then, predicting that both corporates and individual investors will compete to buy Bitcoin... This could lead us to a stronger bull cycle than we have ever witnessed.

Thank you for reading 🙏

#Write2Earn‬  #TrendingTopic  #Bitcoin  #On-chain

#On-chain data shows 4 whales continually buying #ARB .

Andrew Kang(@Rewkang) bought 1.51M $ARB with 1.85M $USDC again at $1.23.

Andrew Kang spent a total of 2.85M $USDC to buy 2.3M $ARB, with an average buying price of $1.24.

#On-chain Tool #3 - #Lunarcrush :

This is a tool for analyzing social data about tokens (such as the number of mentions on Twitter, etc.). Personally, when researching a project, I look at how many followers their Twitter account has, how recently tweets have been interacted..

#On-chain Tools #4 - #CryptoSlam

This tool provides common data, such as Volume and Floor Price, for NFT collections. I also pay attention to Blockchain by NFT Sales Volume to see which ecosystem is attracting the most NFT money flow

#On-chain Tools #5 - #Santiment :

Santiment is a platform that provides On-chain data for the entire crypto market. The data on Santiment has been cleaned, so it is relatively reliable. Santiment takes data from real-time sources.

#On-chain Tools #6 - Watchers

This is a popular tool recently, and I have also written an article about how to use it.

🚨⭕️Following the ascension in spot price above the psychologically key $30K level, Bitcoin Miners have continued to send large clips of BTC to exchanges.

Currently, Miners are sending $105M to exchanges, the second largest USD denominated transfer on record.

#On-chain #ensigntrading #miners

A net outflow of 18,828 Bitcoins occurred from the exchanges yesterday (March 28, 2024) alone. But what is the reason?

Following the approval of Bitcoin Spot ETF, net BTC outflows from exchanges continue to increase.

⚠️ A net outflow of over 10K was achieved 6 times.

A total of more than 10 thousand Bitcoins exited from all exchanges (CEX and DEX) on 6 different days in 2024.

Following the spot ETF approval, the most intense color in Bitcoin net outflow was red (buyers are strong). So much so that we witnessed a net Bitcoin outflow of 14K, 18K, 20K, 12K, 14K on 6 different days, respectively, and finally 18,828 yesterday. It would not be wrong to associate these with corporate purchases (I will prepare a detailed article in the future).

After such a large amount of Bitcoin outflows, we can expect the supply shock to continue to increase (but first, necessary liquidations must be made on the leverage side) and it would not be wrong to expect serious increases.

✅ Result

Bitcoin is the only asset in limited supply that central banks cannot claim.

We can foresee that interest in Bitcoin will increase with the start of the global interest rate cut cycle in the near future. Then, predicting that both corporates and individual investors will compete to buy Bitcoin... This could lead us to a stronger bull cycle than we have ever witnessed.

Thank you for reading 🙏

#Write2Earn‬  #TrendingTopic  #Bitcoin  #On-chain

#On-chain Tools #1 - #Defillama :

This is the tool I recommend most for newbies to research. Defillama focuses on TVL, or the value of tokens locked into the protocol. An increase in TVL indicates that the project is receiving attention from the community and vice versa.