Bitcoin Bearish Momentum Losing Steam? Analyst Flags Key Metric
An analyst has highlighted how the Bitcoin Inter-exchange Flow Pulse has continued to be in a bearish part just lately, however its worth is beginning to flatten out.
Bitcoin IFP Could Be Reaching A Low
In a brand new post on X, CryptoQuant group analyst Maartunn has talked concerning the newest pattern within the Bitcoin Inter-exchange Flow Pulse (IFP), which is an on-chain indicator that tracks the BTC flows occurring between centralized spot and derivatives exchanges.
When the worth of this metric rises, it means extra of the cryptocurrency is flowing from spot to derivatives platforms. Such a pattern implies speculative curiosity in BTC goes up.
On the opposite hand, the indicator witnessing a decline suggests merchants could also be taking a decrease threat strategy as they’re lowering their transactions to derivatives exchanges.
Now, right here is the chart shared by Maartunn that exhibits the pattern within the Bitcoin IFP and its 90-day transferring common (MA) over the previous decade:
As displayed within the above graph, the Bitcoin IFP was on the rise throughout the previous few months of 2024, however in 2025, a reversal occurred within the indicator. Flows to derivatives exchanges began declining and earlier than lengthy, the metric slipped underneath its 90-day MA.
A cross under this MA is taken into account to sign the beginning of both a bear market or a correction part for the cryptocurrency. Over the course of 2025, the sign maintained because the IFP continued to go down and didn’t discover a break above its 90-day MA. Interestingly, Bitcoin nonetheless rallied in the course of the second half of the yr to a brand new all-time high (ATH).
Back in 2021, an identical sample emerged as BTC noticed one other leg of the bull run within the second half of that yr alongside a bearish sign on the IFP. From the chart, it’s seen that this earlier IFP bearish transition remained all the best way till the underside of the 2022 bear market, the place it flattened out earlier than reversing up.
An analogous sample was additionally noticed in the course of the 2018 bear market. As such, given the historic priority, it’s attainable that Bitcoin may discover a backside alongside a reversal within the IFP this time round as effectively.
The early indicators of such a reversal could even doubtlessly be starting to seem, because the indicator has been switching to a sideways trajectory just lately. “The Inter-Exchange Flow Pulse remains to be in a bearish part, nevertheless it’s beginning to flatten out,” famous the analyst.
Naturally, it’s nonetheless too early to inform whether or not derivatives flows are witnessing an actual pattern shift, so it solely stays to be seen how the IFP will develop within the close to future. “A shift right here might sign altering capital flows,” mentioned Maartunn. “Watch this metric intently within the coming weeks.”
BTC Price
At the time of writing, Bitcoin is floating round $67,300, up 1.3% during the last week.
