CryptoQuant: Increased Economic Uncertainty Leads to Decreased Demand for $BTC and $ETH; Market Focuses on Non-Farm Payroll Data

According to CryptoQuant data, before Trump's speech, there was a significant influx of funds into exchanges for Bitcoin, Ethereum, and XRP, indicating investors' intention to cash out. Bitcoin's single block transaction volume once reached 2.5K $BTC, Ethereum saw an hourly inflow of 80K $ETH into exchanges, and XRP experienced an inflow of 130M tokens into Binance within one hour, far exceeding the previous day's level of less than 10M per hour.

In addition, Coinbase in the United States has also observed an increase in Bitcoin deposits, particularly 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 US non-farm payroll report to be released on Friday, which will provide insights into economic health regarding job growth, unemployment trends, and wage changes, potentially providing support for a short-term market rebound.