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Crypto Overview
Exchange Netflow = Inflow - Outflow
(A positive value indicates an increasing reserve.
For spot, a positive value indicates increasing selling pressure.
For Derivatives, high values indicate high volatility.)
From March 13 to March 20: Witness a large net deposit on exchanges after the #usdcdepeg event.
=> Loaded due to fear of fud, can be sold at any time
From March 21 to April 9: Witnessing a large and continuous net withdrawal
=> Withdraw to hoard after running out of fud.
All Stablecoins: Exchange Netflow (Total) - All Exchanges
Witness a large net withdrawal of Stablecoin on all exchanges and continuously.
=> Based on the above 2 data, we see that there is currently no new cash flow. Profit-taking moves continued to take place.
Further confirmation of the "Sell in May" hypothesis
Strong catalyst narratives are coming to an end. Including #AI #LSD # Stablecoin
To avoid further net withdrawals, #Binance has been pumping lowcap shitcoins and fantokens.
It can be clearly seen that from April 5 to April 9, money outflow tends to slow down and hold.
To get through this phase, we need to see more strong trends, and that would be #
Please store a lot of #USDT to prepare for the new trend. After May, there may be a strong upward wave again. Then it will be more suitable to make money
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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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