Bitcoin Spot To Derivatives Flow Forms Historical Bullish Pattern
On-chain data shows the Bitcoin flow from spot exchanges to derivatives exchanges is currently painting a trend that has historically been bullish for the crypto’s price. As pointed out by an analyst in a CryptoQuant post, the BTC spot to derivatives flow may be hinting at a bullish outcome for the crypto.
When the value of this metric rises, it means a higher number of coins are now being transferred to derivatives exchanges from spot as investors look to open futures positions. In the past, the indicator’s value has usually moved faster whenever the price of the crypto has observed a large decrease. Now, here is a chart that shows the trend in the Bitcoin spot exchanges to derivatives exchanges flow over the last few years.
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