Derivative Exchange Outflows: Could They Indicate a Bullish Turnaround?

IconCryptoNewsTerminal Staff07 Jul, 2024

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Derivative Exchange Outflows: Could They Indicate a Bullish Turnaround?

Traders are keeping a watchful eye on the recent outflows from derivative exchanges, a development that has been interpreted as a potential sign of a market upswing. As reported by CryptoQuant analyst Amr Taha, derivative exchanges witnessed outflows of approximately 28,400 BTC over a two-day period between the 5th and 6th. This substantial outflow suggests that traders may be anticipating higher prices and are opting to hold their assets rather than sell. Such a trend is often viewed as an indicator of a local market bottom or a potential price bounce.