Spikes in Bitcoin Exchange Inflows Signal a Large Selloff is Looming

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Bitcoin has continued trading sideways within the lower $9,000 region overnight, with its ongoing consolidation phase now extending over ten weeks Although the crypto has yet to express any clear momentum, likely, this lackluster trading bout will ultimately result in it making a massive movement Analysts are now noting that exchange inflows over the past few weeks have been surging, suggesting that traders may be preparing to offload their BTC This could help provide the crypto with some clear direction, and the data heavily favors the crypto’s bears Bitcoin has struggled to garner any clear momentum throughout the past ten weeks, creating a massive trading range between $9,000 and $10,000. This lack of direction has made it incredibly unclear as to whether its next big movement will favor buyers or sellers. One set of on-chain data that seems to signal that the next movement may be skewed in favor of…

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