Crypto Market Crawls To A Standstill As Investors Remain Neutral
2023年2月28日 - 02:00AM
NEWSBTC
Over the last week, the crypto market has seen what can be
described as a rollercoaster movement. After coming out of an
impressive rally, the digital assets in the space attempted to hold
on to their value but a downward spiral would follow. However,
neither the upward nor downward movement has been sustained,
leading to a completely neutral setup by Monday morning. Crypto
Inflows And Outflows Remain Identical The exchange inflows and
outflows can usually be indicators of how investors are viewing the
market. When inflows to centralized exchanges soar, it can lead to
sell-offs, meaning that prices of digital assets in the space will
decline. At the same time, outflows can point toward accumulation,
helping to prop up the prices of cryptocurrencies. Related Reading:
Here’s The Reason Behind Solana’s (SOL) 12% Jump However, in the
last week, there has not been much of a demarcation between the
inflow and outflow volumes. Data from Glassnode shows that in this
7-day period, there was $3.9 billion worth of Bitcoin (BTC) flowing
into CEXes and $3.8 billion flowing out of exchanges. Total market
cap still holding above $1 trillion | Source: Crypto Total Market
Cap on TradingView.com Likewise, Ethereum (ETH) saw $2.4 billion
flow into exchanges with $2.2 billion flowing out. The stablecoin
Tether (USDT) had the closest margin between the two with $3.7
billion worth of inflows and outflows recorded, respectively, with
negative net flows of only -$23 million. 🚨 Weekly On-Chain Exchange
Flow 🚨#Bitcoin $BTC➡️ $3.9B in⬅️ $3.8B out📈 Net flow:
+$96.5M#Ethereum $ETH➡️ $2.4B in⬅️ $2.2B out📈 Net flow:
+$242.3M#Tether (ERC20) $USDT➡️ $3.7B in⬅️ $3.7B out📉 Net flow:
-$23.0Mhttps://t.co/dk2HbGwhVw — glassnode alerts
(@glassnodealerts) February 27, 2023 These figures point to
indecisiveness among crypto investors who seem to be holding off on
making any drastic moves right now. This explains the low momentum
in the market this past week, leading assets like BTC and ETH to
maintain a tight price line while waiting for investors to decide.
Investor Sentiment Stands Completely Neutral In the midst of the
low momentum, investor sentiment has moved to completely neutral
territory. According to the Crypto Fear & Greed Index which is
ranked from 1-100, investor sentiment is sitting at a score of 50.
This is right in the middle of the scale, proving once more that
investors are choosing to do nothing at this point. Investor
sentiment sits completely neutral | Source: alternative.me The
thing about investor sentiment sitting in such an utterly neutral
territory is that there is no way to tell where the market will
swing next. But any swing from here will be a significant one. So
it can either end up very good for the market or very bad for the
digital assets in the space. Related Reading: Dogecoin Holders’
Profit Margin Remains High As Most Opt To Hold For Longer
Currently, the total crypto market cap is still holding above $1
trillion despite the slowdown. The market cap is now sitting at
$1.027, down 1.05% in the last 24 hours. Follow Best Owie on
Twitter for market insights, updates, and the occasional funny
tweet… Featured image from Pure Healthy Living, chart from
TradingView.com
Tether USD (COIN:USDTUSD)
過去 株価チャート
から 4 2023 まで 5 2023
Tether USD (COIN:USDTUSD)
過去 株価チャート
から 5 2022 まで 5 2023