CryptoQuant: The market may be preparing for the next uptrend
Odaily reported that according to CryptoQuant's official statement on the X platform, the data shows that the Exchange Flow Multiple indicator reached a low value before the market's uptrend in June 2023. Currently, this indicator is still at a low level, which may indicate that the market is preparing for the next upward trend. The Exchange Flow Multiple indicator reflects the ratio between the short-term (30 days) and long-term (365 days) BTC inflows and outflows on trading platforms. When the Exchange Flow Multiple declines, it means that the short-term inflows and outflows on the trading platforms are significantly lower than the long-term inflows and outflows.
