Exchange inflows gauge potential selling pressure, with high inflows suggesting high sell pressure and low inflows suggesting low pressure.
Despite transfers from the Mt. Gox bankruptcy estate and worries of a United States government sell-off, Bitcoin exchange inflows — the total amount of BTC sent to exchanges — have dropped significantly since early August.
According to data from CryptoQuant, nearly 94,000 Bitcoin (BTC) was transferred to exchanges on Aug. 4, followed by approximately 49,000 BTC sent to exchanges on Aug. 5, and roughly 51,000 BTC deposited to exchange wallets on Aug. 6.
Bitcoin exchange inflow. Source: CryptoQuant
