Exchange Activity Explodes Following Bitcoin’s $10K Breakout
Cointelegraph
Published Jul 27, 2020 06:00PM ET
Updated Jul 27, 2020 07:40PM ET
Bitcoin’s (BTC) recent breakout was accompanied by a massive spike in on-chain exchange volume activity, according to data from Glassnode.
Unlike regular trading volume that is often artificially inflated by the exchanges, on-chain activity may be more indicative of the true patterns. Interestingly, the only metric that experienced a downward trend is the number of exchange deposits. This may be a bullish sign in its own right.
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Written By: Cointelegraph
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