Bitcoin Fund Flow Continues to Decline on Exchanges, Analysts Predict Bull Run to Continue Post Correction

Bitcoin Price recorded a 6% correction today with a daily low of $53,470 falling from a daily high of $58,471. The price correction of $5,000 created fears of further downside among traders, however, on-chain analysts Ki-Young Ju pointed that the Fund Flow Ratio of Bitcoin on all exchanges is around 7% which is considerably low, given the fund flow has exceeded 16% in March last year when BTC price fell by 50%.
The Fund Flow on exchanges indicates that most of the BTC transactions occurred outside the exchanges primarily on OTC desks. Another on-chain analysis showed that big whales in the range of 100 BTC -1000 BTC are still accumulating while smaller whales have started to take profit.

Fund Flow Ratio for all exchanges is still very low like 7%, meaning 93% of transaction volume on the $BTC network happened outside of the exchanges.
This ratio was 16% a day before the great sell-off in March 2020.
— Ki Young Ju 주기영 (@ki_young_ju) March 23, 2021

Bitcoin price has recorded major corrections of nearly 20% on more than one occasion at least once over the past three months, thus a correction of just 6% should not cause a worry about Bitcoin reaching its potential top.
As per Young,

“Whales tend to realize profits when retail investors are active in the market. … Bitcoin price is likely to go up when whales are active in the market in the long term.”

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