Shift in Bitcoin Flows Stirs Hope for the Battered Crypto Market

Fewer coins moving to exchanges from so-called cold wallets
Bitcoin has jumped to $21,000 amid tentative crypto recovery

WATCH: Katie Stockton, founder and managing partner of Fairlead Strategies, discusses the outlook for bitcoin and other crypto currencies.Source: Bloomberg

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By Sidhartha Shukla

June 21, 2022 at 9:28 AM UTC

This article is for subscribers only.

One notable source of selling pressure on Bitcoin is ebbing, buttressing arguments that the token is due at least a temporary reprieve.

Fewer Bitcoins are being moved to exchanges from so-called cold wallets -- offline stores of the digital asset -- for potential sale, according to data from analytics firm CryptoQuant.