• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M

Skepticism Surrounds Bitcoin Gains Amid Increased Exchange Inflows

user avatar

by Giorgi Kostiuk

7 months ago


  1. September Bears and Market Sentiment
  2. Exchange Inflows and Selling Activity
  3. Buyer Activity and Market Sentiment

  4. Despite recent gains in the value of Bitcoin (BTC), market sentiment remains skeptical. This is due to a surge in exchange inflows, hinting at profit-taking.

    September Bears and Market Sentiment

    Historically, September has been a challenging month for Bitcoin, often resulting in poor performance. This history is causing market jitters, despite the recent upswing. The general sentiment in the market remains bearish. The Bitcoin Fear and Greed Index stands at 33, indicating traders are preparing for a potential repeat of previous September price dips. A recent report by U.S. fund manager NYDIG suggested the market could be in a seasonal slump for the next month. The report also noted that Bitcoin has typically fallen by 5.9% in September.

    Exchange Inflows and Selling Activity

    Data from CryptoQuant shows a significant increase in Bitcoin inflows to spot exchanges on 9th September. This surge coincides with a recovery in BTC prices, suggesting profit-taking and anticipation of a bearish trend. The Spent Output Profit Ratio (SOPR) ratio on CryptoQuant has shifted above 1, indicating that traders are selling to realize gains. This could potentially halt Bitcoin’s gains.

    Buyer Activity and Market Sentiment

    In a typical crypto bear market, buying activity remains relatively low. This trend is currently evident on the Bitcoin daily chart. The Chaikin Money Flow has been negative since late August, indicating more selling than buying. Additionally, BTC has traded below the 200-day Exponential Moving Average for two weeks, suggesting a negative general market sentiment.

    Crypto traders are also focusing on the upcoming US Consumer Price Index (CPI) data. Positive inflation data could strengthen the case for the Federal Reserve easing interest rates, which could boost appetite for risk assets such as crypto. Despite the bearish signals, a positive sign emerged when spot Bitcoin exchange-traded funds (ETFs) flipped positive for the first time since late August. If the Bitcoin ETF data remains positive for the rest of the week, it could renew optimism among crypto traders and alleviate fears of a bear market.

0

Share

Other news

Minnesota and Alabama Might Create Their Own Bitcoin Reserves

Bills in Minnesota and Alabama aim to allow investments in Bitcoin, expanding access to cryptocurrencies.

user avatarGiorgi Kostiuk

a few seconds ago

Ripple: How Rising XRP Price Affects Transaction Efficiency

Ripple CTO David Schwartz explains how a rising XRP price can improve transaction efficiency.

user avatarGiorgi Kostiuk

a minute ago

XRP MVRV Ratio Drops Below 200-Day Moving Average: What Does It Mean?

XRP's MVRV ratio has dipped below the 200-day average, indicating a potential market trend shift.

user avatarGiorgi Kostiuk

a minute ago

Cardano Listing on Coinbase Derivatives: A New Era for ADA

Cardano is listed on Coinbase Derivatives, opening new opportunities for investors and institutions in the crypto world.

user avatarGiorgi Kostiuk

2 minutes ago

XRP and Critical Levels: Analysis and Prediction

XRP at a crossroads: potential move to $2.50 on breaking $2.20 or to $1.50 on falling below $2.00.

user avatarGiorgi Kostiuk

2 minutes ago

Bitcoin Price Decline Following Tariffs: Market Overview

Bitcoin's price fell by $6,000 after new US tariffs, causing cryptocurrency market volatility.

user avatarGiorgi Kostiuk

10 minutes ago

dapp expert logo
© 2020-2025. DappExpert. All rights reserved.
© 2020-2025. DappExpert. All rights reserved.

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.