Signals of a short-term supply and demand slowdown have emerged as BTC outflows narrowed, premiums weakened, and trading volume decreased.
According to CryptoQuant data, Coinbase's net Bitcoin inflows and outflows on March 19 (UTC, pending) were recorded at -151 BTC. This represents a significant reduction in the scale of outflows following the large net outflow the previous day (-2,718 BTC).
Short-term position adjustments within the exchange are continuing as a trend of outflows reversing from inflows on the 15th (+594 BTC), 16th (+1372 BTC), 17th (-1894 BTC), and 18th (-2718 BTC).
According to CryptoQuant data, the Coinbase Premium indicator recorded -0.0021% on March 18 (UTC).
The trend has shifted back into negative territory after maintaining positive territory with 0.0282% on the 14th, 0.0202% on the 15th, 0.0024% on the 16th, and 0.0334% on the 17th. The recent trend suggests a phase where short-term supply and demand are slowing down somewhat as the price premium on US exchanges weakens.
According to Coinage, Coinbase Prime's Bitcoin trading volume was recorded at 9,245 BTC. This represents a decrease of approximately 19.5% compared to the previous day's 11,489 BTC, confirming a trend of slightly slowing short-term trading intensity. The 24-hour trading volume in dollar terms was recorded at approximately $337.41 million.
With trading volume decreasing compared to the previous day, the intensity of short-term trading driven by institutions appears to have eased somewhat. As position adjustments continue amidst a period of volatility, trading intensity is interpreted as having entered a period of consolidation.
[Editor's Note] Wall Street Liquidity Radar monitors Bitcoin supply and demand flows in the U.S. market and tracks changes in investor sentiment. In particular, it analyzes the sentiment of market participants and the supply and demand environment through key indicators such as inflows and outflows at Coinbase—an exchange primarily used by U.S. institutional investors—as well as the Premium Index and OTC trading volume. It serves as a reference for gauging short-term market trends and overall investment temperature.
Real-time news... Go to TokenPost Telegram
Do you miss the timing for when to buy and sell?
Set your investment direction with real-time positive/negative news signals.
<Copyright ⓒ TokenPost, unauthorized reproduction and redistribution prohibited>
