$BTC Bitcoin corrects as holders take profits

CryptoQuant data shows that BTC holders are transferring their BTC holdings to exchanges, taking profits and thus increasing selling pressure. The Bitcoin Exchange Net Flow metric shows the difference between BTC flowing into and out of the exchange. As of Thursday, the metric shows a net inflow of 3,135 BTC, indicating a bearish signal for BTC. If the net inflow continues to increase and intensify, the price of Bitcoin could decline further.