Ki Young Ju, CEO of CryptoQuant, has shared insights on Bitcoin inflows into exchange user wallets, indicating that these trends are currently normal compared to the last bear market. Ju highlights that his analysis focuses solely on user deposit wallets. This excludes both cold and hot wallets managed by exchanges. Despite the steady inflows, he believes that there is still bull market.
September Sees Green Candle for Bitcoin, Sparking Investor Interest
It is important to note that Bitcoin produced a green candle in September. As October starts, this has aroused the interest of investors who are waiting to know if this trend is going to be repeated. The following three months have been historically positive for the Bitcoin. These last three months caused a lot of people to think that a bull run could be around the corner.
Crypto Community Eagerly Watches October for Bitcoin Developments
With this, CryptoQuant analysis provides a reminder for investors. The current inflows are suggestive of activity in the market but they are not enough to confirm the start of a bullish run.
Lastly, the crypto community is now paying attention to what October holds for them. Some believe that the latest upward trends in the Bitcoin value will be a signal for further increase in the following months. As usual, it will be important to monitor the trends on the market, which will remain unstable due to the fluctuations in the world of cryptocurrencies.
Source: https://blockchainreporter.net/bitcoin-inflows-show-normal-trends-investors-eye-october-cryptoquant-ceo/