Bank of America released a note with the title "Digital Assets: In the Flow,” writing that it doesn't see a crypto winter as the market is active both in adoption and in project developments.
Crypto trading analysis of individual and exchange wallets reveals a “lack of directional conviction” in the sector. The bank predicted that the upside movement is unlikely to happen in the next 6 months, taking into account the Fed policy and macroeconomic factors.
However, there are no signs of crypto winter. The term is used for the case when prices of cryptos fall persistently without any recovery over many months. The report said that the BTC exchange outflows indicate that dip-buying stopped. On the other hand, inflows for Eth show the possibility for the price increase.
There is a high demand for stablecoins, with the 3 leading ones by market cap seeing exchange inflows for the second week in a row.