An analyst has highlighted how the Bitcoin Inter-exchange Flow Pulse has continued to be in a bearish phase recently, but its value is starting to flatten out. Bitcoin IFP Could Be Reaching A Low In a new post on X, CryptoQuant community analyst Maartunn has talked about the latest trend in the Bitcoin Inter-exchange Flow Pulse (IFP), which is an on-chain indicator that tracks the BTC flows occurring between centralized spot and derivatives exchanges. Related Reading: Bitcoin Accumulation Notably Weaker Than Nov 2025 Bounce: Glassnode When the value of this metric rises, it means more of the cryptocurrency is flowing from spot to derivatives platforms. Such a trend implies speculative interest in BTC is going up