ChainCatcher reports that according to CryptoQuant, before Trump's speech, investors transferred more Bitcoin, ETH, and XRP to trading platforms, indicating an increased selling intention. Within hours after Trump began speaking, Bitcoin's single-block transaction volume also surged. In the United States, Bitcoin deposits on Coinbase increased, especially from large holders.
Similarly, ETH inflows to trading platforms peaked at around 80,000 ETH within 1 hour. XRP transfers to Binance jumped to 130 million within 1 hour, compared to less than 10 million XRP per hour for most of the previous day.
CryptoQuant stated that the rise in trading platform inflows reflects investors' willingness to close positions amid increasing economic uncertainty, with Bitcoin and ETH demand declining in the perpetual futures market as traders close long positions. However, as negative factors fade, new economic data (non-farm payrolls and unemployment report) to be released late Friday may provide momentum for a short-term market rebound.
