Flow Types

Exchange-to-Exchange

BTC moving between two exchanges — operational rebalancing, not demand

Category: Flow Types Also known as: 3 Related terms: 3

Definition

Sender + recipient both labeled exchanges (different operators). Cancels out in naive flow-counts (one exchange's outflow is another's inflow), but our flow_type isolates this so real demand signals stay clean.

Context anchor

Typically 2–5% of daily whale volume; spikes can indicate liquidity-event rebalancing

Example

5,000 BTC moved Binance → Coinbase (rebalancing, not real demand)

Also known as

exchange_to_exchangee2einter-exchange transfer