Bitcoin all exchanges netflow data shows the net volume of Bitcoin inflows and outflows on all exchanges.
When we look at this data with the 365-day moving average (365SMA), we see that the 365SMA is usually in a range between -600 and -1100 during bull markets.
As of now, the 365SMA is around -900, which shows us that the bulls are very strong.
Considering that the demand for Bitcoin has increased after the approval of Spot ETF, this makes 365SMA a data point that we need to follow closely this bull season.
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Written by burakkesmeci