> For the complete documentation index, see [llms.txt](https://userguide.cryptoquant.com/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://userguide.cryptoquant.com/es/top-10-presets/bullish-bearish-trend.md). # Tendencia del Mercado La oferta de Bitcoin en los exchanges puede determinar la tendencia alcista/bajista del mercado ## **BTC: Reserva de todos los Exchanges** Desde el inicio de Bitcoin, la cantidad de BTC en propiedad de los exchanges ha aumentado constantemente. Sin embargo, a partir de febrero de 2020, los inversores institucionales han comenzado a retirar grandes volúmenes de BTC de estos exchanges para mantenerlos estratégicamente a largo plazo. Dichas retiradas han creado presión sobre la liquidez de BTC, y la crisis de ventas ha hecho subir el precio de BTC desde mediados de 2020, según el gráfico siguiente. ### 👉 [Guardar Gráfico](https://cryptoquant.com/prochart/fp272opepr) ![](https://4153181586-files.gitbook.io/~/files/v0/b/gitbook-legacy-files/o/assets%2F-MBHQ44vVRUAbLIaMwGN%2F-MSRRnFT5Amo4AQr0cD5%2F-MSRSRa1AsOeG2wcu6sH%2Fimage.png?alt=media\&token=3ee1f25e-4e04-4937-a7e1-b713e22837c6) {% content-ref url="/pages/-MSlW6DEcPtp5wCCn2FK" %} [Reserva de Exchange](/es/exchange-flows-indicators/exchange-reserve-1.md) {% endcontent-ref %} ## **BTC: Flujo Neto de todos los exchanges (MA de 30 días)** El flujo neto es la diferencia entre la entrada y la salida de exchanges. En el mercado alcista, es probable que el flujo neto se mantenga negativo. De lo contrario, en el mercado bajista, es probable que se mantenga positivo. Por ejemplo, en la media móvil de 30 días, el Netflow alcanzó un máximo anual en el momento de su máximo en 2018, y el Netflow alcanzó un mínimo anual cuando Bitcoin oscilaba los 10.000 dólares en 2020. ### 👉 [Guardar Gráfico](https://cryptoquant.com/prochart/nfihpalo76) ![](https://4153181586-files.gitbook.io/~/files/v0/b/gitbook-legacy-files/o/assets%2F-MBHQ44vVRUAbLIaMwGN%2F-MSRRnFT5Amo4AQr0cD5%2F-MSRSe7LpzCaMFWiQI7x%2Fimage.png?alt=media\&token=0d948f24-3c19-44f9-bb5d-77b2cfc16316) ![](https://4153181586-files.gitbook.io/~/files/v0/b/gitbook-legacy-files/o/assets%2F-MBHQ44vVRUAbLIaMwGN%2F-MSRRnFT5Amo4AQr0cD5%2F-MSRSfZrL7I7dk37MVGv%2Fimage.png?alt=media\&token=dd6b716b-0daa-4bf3-a1bd-171d40e8d72c) {% content-ref url="/pages/-MSlVoLc7XKvcbGc8o5q" %} [Entrada/salida y Flujo Neto de Exchanges](/es/exchange-flows-indicators/exchange-in-outflow-and-netflow.md) {% endcontent-ref %} --- # Agent Instructions This documentation is published with GitBook. GitBook is the documentation platform designed so that both humans and AI agents can read, navigate, and reason over technical content effectively. Learn more at gitbook.com. ## Querying This Documentation If you need additional information that is not directly available in this page, you can query the documentation by asking a question. Perform an HTTP GET request on the following URL with the `ask` and `goal` query parameters: ``` GET https://userguide.cryptoquant.com/es/top-10-presets/bullish-bearish-trend.md?ask=&goal= ``` `ask` is the immediate question: it should be specific, self-contained, and written in natural language. `goal` is what the user is ultimately trying to achieve, the reason they need the answer. Sharing it helps GitBook give you a better, more relevant answer. A goal is most helpful when it describes the outcome the user wants rather than restating the question. For example, with `ask=how do I create an API token`, a goal like `automate deployments from our CI pipeline` lets GitBook tailor the answer to that use case. The response will contain a direct answer to the question and relevant excerpts and sources from the documentation. Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.