Источник Bitcoinist.com
Заголовок Bitcoin Bull Trend Still Persists Despite Pullback, Analyst Explains
Дата 20241005

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Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin Bull Trend Still Persists Despite Pullback, Analyst Explains

Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin Bull Trend Still Persists Despite Pullback, Analyst Explains

by Keshav Verma

3 mins ago

in Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin News

0

An analyst has explained how the data of an on-chain indicator could suggest a
bullish trend is still on for Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin despite the latest pullback.

Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin Coinbase Flow Pulse Is Still Signaling Bull Market

In a new post on X, CryptoQuant author Axel Adler Jr has talked about the
latest trend in the Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin Coinbase Flow Pulse. The Coinbase Flow
Pulse refers to an indicator that keeps track of the total amount of
BTC flowing into Coinbase from other centralized exchanges.

Related Reading: Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin MVRV Trend Could Suggest BTC Cycle Top Not In Yet

Here is the chart shared by the analyst, which shows the trend in the 30-day
and 90-day simple moving averages (SMAs) of this indicator over the last few
years:

Looks like the two lines have both been heading up for a while now | Source:
@AxelAdlerJr on X

As displayed in the above graph, the Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin Coinbase Flow Pulse has seen both
of these SMAs moving up since early 2023, suggesting that there has been a
long-term trend of increasing inflows to Coinbase from other platforms.

At present, the 30-day is still above the 90-day, which means the inflows are
continuing to accelerate. From the perspective of this indicator, whenever
these two lines are arranged in this manner, Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin can be assumed to be in a
bull market.

The periods where this condition held true are highlighted in green on the
chart. It would appear that the metric has only seen a bearish crossover a few
times since this uptrend began, with each bear period lasting
just momentarily.

In recent days, the Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin price has observed some notable bearish momentum,
but so far, this indicator has shown no signs of a bearish cross.
Despite the local pullback, the bullish trend persists, notes
the analyst.

As for why a transfer from other exchanges to Coinbase is considered bullish,
the reason lies in the type of users that do their trading activities on the
platform. Coinbase is primarily used by US-based investors, especially the
large institutional entities , who tend to be the drivers of the market.

Inflows to Coinbase imply demand from such users is up, which can end up
reflecting into the cryptocurrency• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта s value. The Coinbase Flow Pulse
isn t the only indicator that s used for gauging demand from the
American investors, there is also the Coinbase Premium Gap , which tells us
about the short-term changes in demand.

This indicator measures the difference between the Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin prices listed on
Coinbase (USD pair) and Binance• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Binance (USDT pair). Binance• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Binance is used by a global
traffic, so this metric s value basically represents the difference in
behavior between US and world users.

Related Reading: Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin Plunges To $60,000 As Short-Term Holders Harvest
Massive Profits

Below is a chart for the 1-hour version of this indicator shared by an analyst
in a CryptoQuant Quicktake post .

The value of the metric appears to have gone up recently | Source: CryptoQuant

As the quant has highlighted in the graph, the 1-hour Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin Coinbase Premium
Gap has shown a break above the daily recently, which can be a sign that
buying from Coinbase users is starting to pick up.

BTC Price

Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin has taken to sideways movement since its plunge to start the month as
its price is still trading around $61,300.

The price of the coin has seen a net decline over the past few days | Source:
BTCUSDT on TradingView

Featured image from Dall-E, CryptoQuant.com, chart from TradingView.com

============= Итог: 4,3320 ; Экономика#Финансы#Платежные средства#Платежные системы интернета #Криптовалюта#Bitcoin 2,5320 ; Экономика#Финансы#Платежные средства#Платежные системы интернета #Криптовалюта#Binance


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