EMC Labs: Buyers are reversing the massive selling pressure of the past week

Based on several data we monitor, you can judge the trend of BTC by yourself:

1. GBTC had a net outflow of US$579 million in the first two trading days, and other ETFs had a net inflow of US$819 million; the overall net inflow was US$240 million;

2. From 10th to 12th, BTC recorded the largest single-day CEX deposit amount in 12 months for three consecutive days, with a total of over 300,000 Bitcoins; however, the withdrawal volume increased simultaneously in the past few days, and the final net deposit was only 16,000 Bitcoins;

3. From the 13th to the 14th, the deposit amount of BTC dropped rapidly to 58,000, while the withdrawal amount increased simultaneously, and CEX had a net outflow of 20,000 Bitcoins; therefore, from the 10th to the 14th, there was a net outflow, which can be regarded as the buyer’s top. Withheld the selling pressure;

4. Buying Power of US$3.3-3.6 billion accumulated in CEX from 10th to 14th, and this buyer’s power has not been reduced. This indicator is a comparison of Bitcoin/ETH net deposits/inflows and the net value of stablecoins on CEX;

5. Stablecoin minting increased by US$1.7 billion in the past week, plus US$2.1 billion in the first week of January, adding US$3.8 billion. The entry rate of external funds remains at the high level of the past three months.