CryptoQuant: The market may be preparing for the next upward trend

ChainCatcher news, CryptoQuant officially stated on platform X that data shows the Exchange Flow Multiple indicator was at a low level before the market rise in June 2023. Currently, this indicator is also at a low level, which may suggest that the market is preparing for the next upward trend.

It is reported that the Exchange Flow Multiple indicator reflects the ratio between short-term (30 days) and long-term (365 days) BTC inflows and outflows on trading platforms. When the Exchange Flow Multiple decreases, it means that the short-term inflows and outflows on trading platforms are significantly lower than the long-term inflows and outflows.