CryptoQuant: The market may be preparing for the next uptrend

Odaily reported that CryptoQuant's official statement on the X platform showed that the data indicated the Exchange Flow Multiple indicator reached a low value before the market's rise in June 2023. Currently, this indicator is also at a low level, which may suggest the market is preparing for the next upward trend. The Exchange Flow Multiple indicator reflects the ratio between the short-term (30 days) and long-term (365 days) BTC inflows and outflows on trading platforms. When the Exchange Flow Multiple declines, it means the short-term inflows and outflows on trading platforms are significantly lower than the long-term inflows and outflows.