ChainCatcher news, CryptoQuant analyst Maartunn stated that the Bitcoin Inter-Exchange Flow Pulse (IFP) indicator has turned bearish. This indicator uses CryptoQuant's Bitcoin trading platform flow data to measure the flow of Bitcoin between spot trading platforms and derivatives trading platforms. This flow data reflects market sentiment:Increased Bitcoin inflow to derivatives trading platforms → Usually accompanies a bull market;Decreased Bitcoin outflow from derivatives trading platforms → Usually accompanies a bear market.