CryptoQuant: The market may be preparing for the next uptrend

CryptoQuant officials said on the X platform that data showed that the Exchange Flow Multiple indicator had a low value before the market rose in June 2023. The current level of this indicator is also low, which may indicate that the market is preparing for the next upward trend. It is reported that the Exchange Flow Multiple indicator shows the ratio between the short-term (30 days) and long-term (365 days) BTC inflows and outflows of the trading platform. When the Exchange Flow Multiple decreases, it means that the short-term inflows and outflows of the trading platform are significantly lower than the long-term inflows and outflows.