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Bitcoin [BTC] Flows from Exchange and Miners Depict Bullishness

As the price of Bitcoin [BTC] continues to stall around $11,000, traders are actively looking to judge the market sentiments to analyse the next big move. The flow of Bitcoin in and out of exchanges, along with the mining pool transfers can be useful in analysing the market sentiments. Exchange Deposits The increase in deposits on exchanges is usually indicative of bearish sentiments among miners. Data analytics firm Arcane Research tweeted, The BTC deposits at major exchanges has dropped significantly since April and is currently at the low-levels of May 2019. This suggests that more users prefer to store their BTC in…

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