Low Bitcoin Exchange Inflows and Miner Outflows Dey Show Say Dem Believe Say Go Bullish Close to $123K ATH
Bitcoin dey trade near $117,500 after e touch record high around $123,000. On-chain data from CryptoQuant’s Bitcoin Flow Pulse show say exchange inflows still dey low. Historically, when exchange deposits spike, e usually signal big correction for 2017 and 2021. Dis year, holders no wan sell, dem show dis by $200 million BTC withdrawal by whales inside one day. Miner outflows hit 16,000 BTC for July 15, na the biggest daily profit-taking since April. At the same time, Binance data show say retail inflows dey rise and net taker volume dey negative, meaning small traders dey sell. The difference between low inflows, whale accumulation, and miner profit-taking show say market get strong belief. Resistance dey near $123,000, support dey around $113,000–$116,000, and risk dey for deeper pullbacks to $107,000–$111,000 if key levels fail. Even though trend dey bullish, sudden rise for exchange deposits fit mean say short-term correction fit happen.
Bullish
Di di wan dey go down for Bitcoin exchange inflows, even wen e near record high, join with big whale withdrawals plus high miner outflows, e show say holders get strong belief and dem dey accumulate. Dis kain tins dey always come before price go up steady and support bullish trend. But as miner dem dey take profit more and retail people dey sell, e fit cause small wahala for short term, wit key levels round $113K–$116K as important support. Overall, di way wey people dey HODL and how institutions dey build stock show say Bitcoin market get upward bias.