Bitcoin’s Net Exchange Flows Flip Bearish As Cryptocurrency Struggles For Directional Bias

Bitcoin’s Net Exchange Flows Flip Bearish As Cryptocurrency Struggles For Directional Bias
A blockchain indicator tracking the flow of coins in and out of centralized exchanges is signaling a bearish shift in investor sentiment similar to the one seen before the May 2021 crash.Glassnode data shows the 90-day moving average of net exchange flows has turned positive, meaning more coins are entering exchanges than leaving.Sustained net inflows, if any, would be a cause for concern for the bulls.Net inflows imply investor intention to sell, while consistent outflows represent strong holding sentiment and take out circulating supply from the market, paving the way for price rallies.The 90-day average of net flows turned positive…