CryptoQuant: The intensification of economic uncertainty has led to a decrease in demand for BTC and ETH, and the market is focusing on non farm data

PANews
PANews|Apr 04, 2025 07:22
According to CryptoQuant data, before Trump's speech, there was a significant influx of Bitcoin, Ethereum, and XRP funds into the exchange, indicating that investors were interested in cashing out. The single block trading volume of Bitcoin once reached 2500 BTC, Ethereum flowed into the exchange at a rate of 80000 ETH per hour, and XRP flowed into Binance 130 million within an hour, far exceeding the previous day's level of less than 10 million per hour. In addition, Coinbase in the United States has also observed an increase in Bitcoin deposits, particularly funds from large holders. CryptoQuant points out that economic uncertainty has led investors to close long positions and take profits, resulting in a decrease in demand for Bitcoin and Ethereum in the perpetual futures market. The market is currently focused on the upcoming US non farm payroll report, which will provide insights into the economic health of job growth, unemployment trends, and wage changes, and may provide support for the market's short-term rebound.
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