The CEO of the analytical firm CryptoQuant, Ki Young Ju, said that the influx of bitcoins to exchanges has not been recorded, so BTC will continue to grow.
Ki Yong Joo
tweeted that “whales” are not in a hurry to sell cryptocurrency reserves, so there is no influx of bitcoins to the wallets of exchanges. To assess the volume of BTC transfers to exchanges, CryptoQuant created its own All Exchanges Flow Mean indicator, and now it remains in the “safe” zone — whales do not move bitcoins to cryptocurrency exchanges. It seems that the growth of bitcoin above $11,500 will not lead to a sell-off of BTC.
“There is no risk of a BTC sell-off. The All Exchanges Flow Mean indicator shows the activity of whales on exchanges. The danger zone is higher than 2, but now the indicator indicator is lower, we are in a safe zone,” the CEO of CryptoQuant writes.
In the spring, the situation was different: on March 9, the indicator rose to 2, and on March 14, it reached 5. It was during this period that the bitcoin exchange rate fell below $4,000.
Earlier, Ki Yong Joo said that increasing the volume of bitcoins sold by miners will not stop the next bull market.