What is Exchange Netflow?

거래소 순유입은 그날 거래소로 들어온 비트코인(Inflow)과 나간 양(Outflow)의 차이입니다. 공식은 간단합니다: BTC 유입 − BTC 유출 = 순유입.

궁극의 ‘수급’ 레이더입니다. 고래·기관이 매도하려고 거래소에 쌓는지, 아니면 싸다고 보고 콜드월렛에 잠그는지를 보여줍니다.

해석 방법 It? (Selling Pressure vs. Supply Shock)

• 🔴 Positive Values / Rising Bars (Inflows Dominant – Warning: Sell-Off): When the Netflow value rises above zero (becomes positive), it indicates that the amount of Bitcoin entering exchanges that day is much higher than the amount leaving. Whales are moving their coins to exchanges to sell (take profit) or use them as collateral in futures trading. Since the reserve of “coins for sale” on exchanges is rapidly increasing, this is the biggest red flag for immediate selling pressure (dump) or severe price volatility.
• 🟢 Negative Values / Falling Bars (Outflows Dominant – Supply Squeeze and HODL): When the Netflow value drops below zero (becomes negative), it shows that massive amounts of Bitcoin are being withdrawn from exchanges to cold wallets that day. This proves that investors are buying the dip and shifting to long-term HODL mode. Because it instantly drains the available BTC supply on exchanges (creating a supply shock), it is one of the strongest bullish signals supporting a rapid price increase.
• 💡 Pro Trader Tip (Spot vs. Derivative Exchanges): The type of exchange is crucial when reading Netflow data. If these massive inflows (positive netflow) are going directly to Spot exchanges, it signals a real and severe selling wave. However, if high inflows are directed to Derivative (Leveraged) exchanges, it indicates that rather than selling, a massive gamble (opening Long/Short positions) is about to take place, forecasting severe volatility with an uncertain price direction.