Bitcoin
Bitcoin (BTC)
$65,549.00 -0.45456
Bitcoin price
Ethereum
Ethereum (ETH)
$3,331.08 -3.76193
Ethereum price
BNB
BNB (BNB)
$575.91 -0.76267
BNB price
Solana
Solana (SOL)
$178.98 3.4943
Solana price
XRP
XRP (XRP)
$0.6141130 3.13116
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000169 -0.99736
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000122 -0.8081
Pepe price
Bonk
Bonk (BONK)
$0.0000278 -0.94098
Bonk price
Bitcoin
Bitcoin (BTC)
$65,549.00 -0.45456
Bitcoin price
Ethereum
Ethereum (ETH)
$3,331.08 -3.76193
Ethereum price
BNB
BNB (BNB)
$575.91 -0.76267
BNB price
Solana
Solana (SOL)
$178.98 3.4943
Solana price
XRP
XRP (XRP)
$0.6141130 3.13116
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000169 -0.99736
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000122 -0.8081
Pepe price
Bonk
Bonk (BONK)
$0.0000278 -0.94098
Bonk price
Bitcoin
Bitcoin (BTC)
$65,549.00 -0.45456
Bitcoin price
Ethereum
Ethereum (ETH)
$3,331.08 -3.76193
Ethereum price
BNB
BNB (BNB)
$575.91 -0.76267
BNB price
Solana
Solana (SOL)
$178.98 3.4943
Solana price
XRP
XRP (XRP)
$0.6141130 3.13116
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000169 -0.99736
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000122 -0.8081
Pepe price
Bonk
Bonk (BONK)
$0.0000278 -0.94098
Bonk price
Bitcoin
Bitcoin (BTC)
$65,549.00 -0.45456
Bitcoin price
Ethereum
Ethereum (ETH)
$3,331.08 -3.76193
Ethereum price
BNB
BNB (BNB)
$575.91 -0.76267
BNB price
Solana
Solana (SOL)
$178.98 3.4943
Solana price
XRP
XRP (XRP)
$0.6141130 3.13116
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000169 -0.99736
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000122 -0.8081
Pepe price
Bonk
Bonk (BONK)
$0.0000278 -0.94098
Bonk price

High exchange inflow shows correction possibility for bitcoin

high-exchange-inflow-shows-correction-possibility-for-bitcoin
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High exchange inflow shows correction possibility for bitcoin

The latest bull run has helped the global crypto market to rise by roughly $150 billion in just two weeks. However, as the heat grew, selling pressure rose nonetheless, triggering a notable downtrend.

According to data provided by CryptoQuant, there is still a possibility of a correction for the largest cryptocurrency, bitcoin (BTC), despite being down by 1.35% in the past 24 hours. Usually, the BTC price rise has helped the global crypto market cap to gain traction.

Moreover, the bitcoin exchange inflow mean has risen above the average 15 BTC mark to 18.45 coins, according to CryptoQuant. This means that the average amount of bitcoins in a transaction entering the exchanges is 18.45 BTC.

“When multiple exchange inflows with a mean above 15 triggers, there is a strong possibility of a correction within the next few hours.”

CryptoQuant analyst

This situation could help short-term traders gain significant profits, which might inevitably trigger a downtrend in the crypto ecosystem.

Furthermore, bitcoin’s price has already gained traction over the past hour, marking a 0.7% rise in the mentioned timeframe. BTC is trading at $30,500 at the time of writing. The uptrend comes as the asset’s 24-hour trading volume surges by 3% and currently stands at roughly $13 billion.

High exchange inflow shows correction possibility for bitcoin - 1
BTC price – June 26 | Source: Trading View

The recent bull run comes as some of the world’s largest asset management companies have been trying to enter the crypto ecosystem. BlackRock, a firm with over $9 trillion under its oversight, and Fidelity, having $4.3 trillion under its management, have filed for bitcoin exchange-traded funds (ETFs).