Buying/Selling Pressure
On-chain indicators suggest potential Bitcoin buying/selling pressure
It's the number of deposit wallets in all types of stable coins flowing into all exchanges by block. If this indicator goes above 80, the price will likely be a short-term bullish like 1-5%. Since one ETH block interval is 10-15 seconds, it means 80 stable coins are deposited consecutively within 15 seconds. The signal would be more accurate if it hits 80 more than two to three times.
This indicator is Bitcoin holdings in USD of all exchanges divided by stable coin holdings. It helps to see the potential selling pressure by looking at relative power between Bitcoin and stablecoins reserve.
Last modified 1yr ago