$BR : Exchange Flows Are Sending Mixed Signals
$BR is trading around $1.00 after pulling back from the $1.20+ area.
The interesting part is the exchange flow:
Gate moved 13M BR ($12.54M) into its hot wallet a major supply increase.
At the same time, Bitget moved 3.91M $BR ($3.94M) into cold storage, reducing active supply. A 660K BR ($637K) transfer also moved out of Gate's hot wallet.
So this isn't a simple “supply is leaving exchanges” story. Gate added a huge amount of liquidity while Bitget removed supply.
With price sitting near $1.00, the key question now is whether the market can absorb Gate's 13M BR without another wave of selling.
$BR is trading around $1.00 after pulling back from the $1.20+ area.
The interesting part is the exchange flow:
Gate moved 13M BR ($12.54M) into its hot wallet a major supply increase.
At the same time, Bitget moved 3.91M $BR ($3.94M) into cold storage, reducing active supply. A 660K BR ($637K) transfer also moved out of Gate's hot wallet.
So this isn't a simple “supply is leaving exchanges” story. Gate added a huge amount of liquidity while Bitget removed supply.
With price sitting near $1.00, the key question now is whether the market can absorb Gate's 13M BR without another wave of selling.
