Monday, May 16, 2022
Home Crypto News Market Above 40K Bitcoin Moved To Exchanges In 1 Day As BTC Inflows...

Above 40K Bitcoin Moved To Exchanges In 1 Day As BTC Inflows On All Exchanges Reached 1 Year High

- Advertisement -


Data suggests that the crypto market is now completely bearish.

The value of Bitcoin keeps declining at an alarming rate. The leading digital asset has lost 5.02% and now trades at $31,782, according to the current Coinmarketcap data. Also, data from various on-chain analytics platforms shows a huge inflow of BTC into exchanges.

As per data from Santiment, Monday’s net sum of approximately 40,620 BTC in exchange inflow is the largest spike since December 2019.

“As Monday has crossed into its final trading hour (UTC time), a landmark in net #Bitcoin moving to exchanges has occurred. Today’s net sum of ~40,620 $BTC in exchange inflow is the largest spike since Dec 2019. This marks maximal crowd polarization.”


According to the Santiment data, 2019 was the last time three inflow spikes exceeded that of May 9, 2022. Data from Cryptoquant added that the spot exchange inflows hit a new 2-year peak. While All Exchanges BTC inflows are at one Year high.

Furthermore, Glassnode data revealed that the BTC balance on exchanges of 2,541,015.426 BTC is now at a 1-month high, beating the previous record of 2,532,697.774 BTC, which was set on April 10, 2022.


The massive BTC inflows to exchanges continued from what we previously reported here on TheCryptoBasic, indicating that some Whales are exiting their BTC positions. All the data above shows that investors are in full panic mode and the crypto market is completely bearish. This is further confirmed by the bitcoin fear and greed index, which dropped to 10 from 11, reported yesterday.

Yesterday we reported that Above 60K Bitcoin was shuffled Among BTC Whales and Exchanges Within 24 Hours Causing substantial selling Pressure.

Massive Amounts Of Shorts Expected?

Another Santiment data revealed that the BTC’s decline below the $30k mark, the first in 12 months, suggests that more intense selling pressure can be expected based on the funding rate data.


The inference drawn from this data is that the general decline in the crypto market would likely continue, at least in the short term.

- Advertisement -


The content is for informational purposes only and may include the author’s personal opinion, and does not necessarily reflect the opinion of TheCryptoBasic. All Financial investments, including crypto, carry significant risk, so always do your complete research before investing. Never invest money you cannot afford to lose; the author or the publication does not hold any responsibility for your financial loss or gains.

Albert Brown
Albert Brown is a cryptocurrency investor and journalist who has been in the nascent space since 2017. His love and passion for technological innovations made him delve deeper into the world of blockchain and cryptocurrencies. As a journalist, Brown has written on several crypto-related topics that have been referenced by popular industry players like Tyler Winklevoss, Binance CZ, etc.


Please enter your comment!
Please enter your name here

- Advertisment -

Recent News & Articles

Top Hedge Fund Manager Who Warned Investors, Says Terra’s Project Was Destined to Fail Due To High Yield

The hedge fund manager said Terra failed because the system was designed to enrich investors and the team. ...

SHIB Army Burns 449.98 Million Shiba Inu In 24 Hours, 2.17 Billion In A Week

2.17 Billion Shiba Inu (SHIB) Burnt within the Last 7 Days and 449.98 Million During Last 24 Hours. ...

Ethereum Founder Vitalik Buterin “Strongly Agrees” With Terra’s Plan to Compensate Small TerraUSD (UST) Investors Over Rich Ones 

The Ethereum creator believes that a plan to focus more on compensating small investors is a good hybrid formula. ...

Ethereum Founder Sends 500 ETH To Dogecoin Foundation

Ethereum Founder Sends 500 ETH To Dogecoin Foundation. It’s not always that Vitalik Buterin sends funds to support other crypto projects. However, he appears to...

Binance CEO Says Buy Back Or Burn Terra (LUNA) To Create Value, Confirms Exchange Doesn’t Hold UST

Binance CEO Says The Exchange Doesn’t Hold Any UST and Terra team should Burn LUNA to help price recover. ...

Top DeFi Coins Ready to Explode: Chainlink (LINK), Fantom (FTM), and Logarithmic Finance (LOG)

DeFi is rapidly surpassing conventional banking as an innovative application, and the expansion in the future years will be unparalleled. From pioneering borderless payment to...

Can Calyx Token (CLX) Empower the DeFi Space as Tron (TRX) Empowers the DApps Community?

DeFi tokens are taking over the market in the world of digital currencies due to their ability to be swapped or traded for other...

Subscribe To Our Newsletter

Get Updated with All The latest Crypto News, Articles, Reviews, Analysis and much more. Delivered Every Monday.