Matrixport: Exchange BTC balances continue to decline, and its bullish signals are weakening
Jinse Finance reported that Matrixport released a daily chart analysis stating that the bitcoin balance on exchanges continues to decline. Historically, exchange balances and prices have mostly shown an inverse relationship: when balances decrease, it usually corresponds to a bullish environment; when balances rise, it often appears during bearish phases. From the overlay of the two curves, there is already a noticeable divergence between the two trends in this cycle. As institutional participants continue to increase, more and more trades have shifted to over-the-counter (OTC) desks. This trend indicates that institutional funds are gradually taking a dominant position, and the structure of the bitcoin market is undergoing adjustment and evolution. Compared to previous cycles, a significant change in this round is the near absence of retail trading, with price movements being driven more by the inflow and outflow of institutional funds.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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