Bitcoin (BTC) Flashing Potentially Bearish Metric, According to Crypto Analytics Firm Santiment

Bitcoin (BTC) is showing a potentially bearish pattern on the charts, according to the crypto analytics firm Santiment. 1.69 million Bitcoin, worth more than $33 billion at time of writing, moved onto exchanges between September 7th and the 13th. That figure represents the highest weekly spike in exchange inflow since October 2021. A 2021 study published by Santiment indicates large upticks in exchange inflows tend to lead to an average price drop of 5% for crypto assets.

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