In this week's Glassnode Clips, we focus on BTC vs ETH Exchange Flow Dominance:
- This metric gauges the proportion of USD funds flowing in and out of exchanges attributed to Bitcoin and Ethereum. A higher value signals Bitcoin dominance, while a lower value suggests Ethereum dominance.
- Throughout 2023, Bitcoin's dominance has noticeably increased, moving from around 50% to between 65-75%. This rise in BTC exchange flow dominance indicates capital moving down the risk curve, suggesting a weakening of risk appetite.
- Despite the increase in Bitcoin's dominance, net capital outflows persist across the digital asset space, highlighting that caution remains the dominant sentiment.
Discover more in the latest Glassnode Clips below 👇
https://www.youtube.com/watch?v=o_Htt6cKYIY
Post #702
13.3K