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Bitcoin
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$3,907.34 -0.38606
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BNB
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$716.76 0.19508
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Solana
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$226.09 -1.73041
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XRP
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$2.34 -2.62793
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Shiba Inu
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Pepe
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Bonk
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dogwifhat
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Popcat
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Bitcoin
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$100,418.00 -0.16413
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Ethereum
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$3,907.34 -0.38606
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BNB
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$716.76 0.19508
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Solana
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XRP
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$2.34 -2.62793
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Shiba Inu
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Pepe
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Bonk
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Bitcoin
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$100,418.00 -0.16413
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Ethereum
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$3,907.34 -0.38606
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BNB
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$716.76 0.19508
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Solana
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$226.09 -1.73041
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XRP
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$2.34 -2.62793
XRP price
Shiba Inu
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$0.000028 -2.40884
Shiba Inu price
Pepe
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$0.0000237 -3.14012
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Bonk
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$0.0000383 -1.2241
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dogwifhat
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High exchange inflow shows correction possibility for bitcoin

high-exchange-inflow-shows-correction-possibility-for-bitcoin
Edited by
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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.

https://twitter.com/cryptoquant_com/status/1673190523182665729?t=N03KeZTFo8XtI0Qj9vbEsg&s=19

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).