Company data shows a net outflow of approximately $1.34 billion in Bitcoin, with a significant amount of $BTC being withdrawn from exchanges to private wallets.
Sentora notes that this trend indicates a decrease in immediate selling pressure and a strengthening preference among investors for long-term holdings.
In contrast, Ethereum exhibits a different dynamic compared to Bitcoin. According to the data, Ethereum experienced a net inflow of $1.03 billion into exchanges.
Following the recent $ETH price increase, this rise in exchange liquidity could be interpreted as a sign of profit-taking or concerns about a potential supply surplus.
“This week, there has been a significant divergence between $BTC and $ETH.”
A net outflow of $1.34 billion from exchanges in $BTC = supply shifting to their own custody, reducing immediate selling pressure.
$ETH saw a net inflow of $1.03 billion into exchanges = more liquidity in exchanges after the rally, potential profit-taking.”
Bitcoin is trading at $92,300, up 2.6% in the last 24 hours, while Ethereum is trading at $3,230, up 1.2%.
*This is not investment advice.