Exchange Inflows/Outflows
Net flow of BTC to exchanges per day. Up — moving to exchanges (sell pressure), down — moving to cold storage.
What the metric shows
Netflow is the derivative of the exchange balance: not 'how much is there', but 'where it is moving right now'. Positive bars mean coins are being deposited to exchanges, meaning someone is getting ready to sell. Negative bars mean they are being withdrawn to cold storage.
The metric is faster and more volatile than the balance: single large inflows often coincide with local tops (whales depositing coins before selling), and a series of outflows — with accumulation phases. It is best read in conjunction with the balance: netflow provides the momentum, balance provides the trend.
How it is calculated
How to read the signal
| Zone | Value | Interpretation |
|---|---|---|
| Strong inflow to exchanges | Readiness to sell — caution | |
| Flow is close to zero | Equilibrium | |
| Strong outflow from exchanges | Accumulation into cold wallets |
Frequently Asked Questions
How does it differ from the exchange balance?
The balance is a level (how much is there), netflow is the rate of change of that level per day. Netflow reacts earlier.
Why is the data noisy?
Because it is the difference between two large flows. Meaningful signals are sustained series, not individual days.