Reading Time: < 1 minute
November 25, 2020

OnChain Reaction

How fear sitting on exchanges may have entered the markets with Chainalysis

Featuring

Philip Gradwell, chief economist at Chainalysis, went through the latest on-chain data on the blockchain with a focus on April 13-26. In that time, during which time the bitcoin price rose significantly. 

  • (40:01) The BTC price had major climbs on the 16th and 23rd of April. 
  • (40:21) BTC flows into exchanges increased the day before the price increases, which is unusual. 
  • (40:44) “We have heard that there were large amounts of fear sitting on exchanges waiting to buy BTC. So perhaps when they saw the price start to move and they saw this extra liquidity enter the market, that was seen as a signal to buy. And actually that waiting demand that was on the sidelines has actually helped buoy up prices.” 
  • (41:44)  A net flow of $158 million in BTC was cashed out from crypto to crypto exchanges to crypto to fiat exchanges last week. 
Share the love ❤️
Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn
Gerelyn Terzo
Gerelyn caught wind of bitcoin in mid-2017 and after learning about the peer-to-peer nature of Satoshi's creation has never looked back. Previously she covered institutional investing and fintech for several major trade publications. Gerelyn resides in Verona, N.J.

All of the content published on this site is strictly for informational and educational purposes and neither does it constitute investment advice nor solicitation to buy or sell blockchain-based tokens or securities. No investments whatsoever should, therefore, be made based upon information provided or discussed by any guests or hosts appearing within this video or audio content.

Any appearance by any company or individual does not infer any kind of endorsement by Scrumline Ltd (trading as Coinscrum) of either their products and/or services or in any related investment opportunity that they may be pursuing from time to time.

Crypto-tokens and equity investments are high risk in nature and you should always take the advice of a professional financial advisor from within the jurisdiction in which you reside before making any investment decisions.

cortex-logo.jpg
Dynamic Crypto Data, Essential Analysis
7 Day Giveaway: Unlimited Streaming Crypto Data for 12 Months