TechFlow news, October 21: CryptoQuant published an analysis indicating that Binance's Bitcoin net flow metric has recently shown significant negative values. The 30-day simple moving average (SMA30) data shows a substantial outflow of Bitcoin from exchanges. Analysts noted this phenomenon suggests investors are more inclined to hold rather than sell, typically aligning with the accumulation phase in market cycles. Although daily data fluctuates considerably, the 30-day average trend clearly points to accumulation behavior, potentially signaling strengthened market confidence. Experts believe the current trend could support a bullish short-term outlook for Bitcoin.
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