NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: XRP Projected To Reach $8 By 2026: Standard Chartered Identifies Two Major Catalysts
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: XRP Projected To Reach $8 By 2026: Standard Chartered Identifies Two Major Catalysts

Huge Bitcoin Inflow To Gemini Behind The Drop To $38k?

Keshav Verma
Keshav Verma
Last Updated: June 11, 2024 1:57 pm
3 mins read
Bitcoin

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

On-chain analysis shows that crypto exchange Gemini observed huge Bitcoin inflows just before the plunge down to $38k.

Huge Bitcoin Inflows To Gemini

As pointed out by a CryptoQuant post, crypto exchange Gemini saw huge inflows earlier today resulting in a positive spike in the netflows.

Before examining the data, here are some quick definitions for the relevant terms. The exchange inflow is the amount of BTC sent from personal wallets to the exchange platform.

Similarly, the outflow is the BTC that was transferred out of exchanges to personal wallets. The netflow is just the difference between the value of the inflow and the outflow.

When the value of the netflow is positive, it means more BTC is entering the exchange than exiting. Such a  spike would mean that investors want to sell off their Bitcoin, and thus there is a selling pressure in the market.

On the other hand, when this indicator is negative, it implies a buying pressure in the market as more BTC is traveling out of exchanges than in.

Now, here is how the Bitcoin netflow chart for the Gemini crypto exchange looks like:

Bitcoin Gemini Netflow

The Gemini BTC netflow notices a huge positive spike | Source: CryptoQuant

As the above graph shows, Gemini has just witnessed a spike in the Bitcoin netflow. Interestingly, BTC’s price plunged down to $38k from just under $40k right after these inflows.

Related Reading | 8 Green Candles: Here’s What Happened The Last Time In Bitcoin

The chart also shows that the other big positive netflows also seem to have been followed by drops in the crypto’s price. This does make it seem like there is a correlation between the netflows on Gemini and BTC’s price.

BTC Price

At the time of writing, the Bitcoin price floats around $k, up % in the last 7 days. The cryptocurrency’s gains for the month are around %.

Here is a chart that shows the trend in the price of BTC over the last 24 hours:

Bitcoin Price Chart

BTC witnesses a sharp fall from about $40k to $38k | Source: TradingView

After being range bound for quite the while, Bitcoin finally saw some significant price movement as its price touched $40k. The cryptocurrency has seen 9 up days, something the coin hasn’t seen since 6 years ago.

However, today it seems like BTC has finally dropped a little so today won’t be a positive day. As explained before, this plunge down to $38k is likely due to the Gemini inflows.

Related Reading | TA: Ethereum (ETH) Outpaces Bitcoin, Why Bulls Aim Larger Increase

In the past, there have been similar instances where Gemini inflows caused sharp downtrends. However, they don’t necessarily mean a drop will happen. It could still be worth keeping an eye on the crypto exchange’s netflow for any possible hints, nonetheless.

Tweet123Share196ShareSend
Keshav Verma
Keshav Verma

Keshav Verma

Keshav is currently a senior writer at NewsBTC and has been attached to the website since June 14, 2021.

Read more

Keshav has been writing for many years, first as a hobbyist and later as a freelancer. He has experience working in a variety of niches, even fiction at one point, but the cryptocurrency industry has been the longest he has been attached to.

In terms of official educational qualifications, Keshav holds a bachelor’s degree in Physics from one of the premier institutes of India, the University of Delhi (DU). He started the degree with an aim of eventually making a career in Physics, but the onset of COVID led to a shift in plans. The virus meant that the college classes had to be delivered in the online-mode and with it came free time for him to explore other passions.

Initially only seeking to make some beer money, Keshav unexpectedly landed clients offering real projects, after which there was no looking back. Writing was something he had always enjoyed and to be able to do it for a living was like a dream come true.

Keshav completed his Physics degree in 2022 and has been focusing on his writing career since, but that doesn’t mean his passion for Physics has ended. He eventually plans to re-enter university to obtain a masters degree in the same field, but perhaps only to satiate his own interest rather than for using it as a means to find employment..

Keshav has found blockchain and its concepts fascinating ever since he started going down the rabbit-hole back in 2020. On-chain analysis in particular has been something he likes to research more about, which is why his NewsBTC pieces tend to involve it in some form.

Being of the science background, Keshav likes if concepts are clear and consistent, so he generally explains the indicators he talks about in a bit of detail so that the readers can perhaps come out having understood and learnt something new.

As for hobbies, Keshav is super into football, anime, and videogames. He enjoys football not only as a watcher, but also as a player. For games, Keshav generally tends towards enjoying singleplayer adventures, with EA FC (formerly FIFA) being the only online game he is active in. Though, perhaps due to being ultra-focused on the game, he is today a semi-pro on the EA FC scene, regularly participating in tournaments and sometimes even taking back prize money.

Because of his enthusiasm for anime and games, he also self-learned Japanese along the way to consume some of the untranslated gems out there. The skill didn’t merely remain as just a hobby, either, as he put it to productive use during his exploration for small-time gigs at the start of COVID, fulfilling a couple of Japanese-to-English translation jobs.

Keshav is also big into fitness, with agility and acceleration-related workouts making a big part of his program due to the relevance they have in football. On top of that, he also has a more traditional strength based program for the gym, which he does to maintain an overall fitness level of his body.

Close

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

crypto

Crypto ETFs Defy The Pullback With $32 Billion In Fresh Investor Cash

According to Farside Investors data, US investors put close to $32 billion into US crypto exchange-traded funds in 2025 even...

Christian Encila 8 hours ago
Crypto news Scaramucci top altcoins

Scaramucci Picks His Top 3 Crypto Altcoins As Rate-Cut Tailwinds Build

Anthony Scaramucci says a friendlier US policy mix: rate cuts, looser financial conditions, and a renewed push for crypto legislation...

Jake Simmons 9 hours ago

德州撲克實戰教學|如何判斷對手是堅果牌沒偷雞 順子也要放棄保本策略

德州撲克現場牌局最難的不是算出自己有多強,而是判斷對手願意用多強的牌把籌碼推到中間。這手牌的核心在於一條極具辨識度的下注路線,翻牌圈過牌,轉牌圈加注,河牌圈超池全下。 當一名玩家把行動設計成「先示弱再...

newsbtc 15 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

Dogecoin AMD comparison news

Dogecoin Mirrors AMD’s Setup From Last Year, Analyst Claims

Jake Simmons 3 hours ago
Bitcoin

Bitcoin Could Be Setting Up A Comeback Vs. Gold, Analyst Suggests

Christian Encila 5 hours ago
미-중 글로벌 디지털 화폐 패권 경쟁 심화... 레이어 2 프로젝트의 전망은?

미-중 글로벌 디지털 화폐 패권 경쟁 심화… 레이어 2 프로젝트의 전망은?

Soyeon Lee 7 hours ago

Premium Sponsors

Press Releases

  • Best Meme Coins To Buy For The Next Year

    Những meme coin tiềm năng nên mua cho năm tới...

    4 hours ago
  • Các dự án presale crypto tốt nhất nên mua, top 5...

    5 hours ago
  • ChatGPT Predicts

    Những alt coin tốt nhất nên mua vào đêm Giao...

    5 hours ago
  • Maxi Doge Presale Has 48 Hours Left - Can MAXI Lead The 2026 Meme Run?

    Maxi Doge Presale Has 48 Hours Left – Can MAXI Lead...

    7 hours ago
  • Dự báo từ ChatGPT

    Dự báo từ ChatGPT làm bùng nổ tranh luận mới...

    1 day ago

Newsletter

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.