Supply Flow To Exchanges

Inflows are potential sell pressure arriving; outflows are coins leaving to custody. The net line below zero means more value left exchanges than arrived — the accumulation signature.

Big single-day inflow spikes have preceded several violent sell-offs (they're visible before the June 2022 and FTX-era cascades), which is why exchange-flow alerts are a staple of on-chain trading desks. As with exchange supply, tracked-exchange coverage shapes the absolute numbers.