The data appears to correspond with expectations of what is currently occuring in the STEEM market.

Bittrex speculators are accumulating and holding it on the exchange rather than powering up; surprising to see Poloniex transfers are negative. Some arbitrage to Bittrex's higher priced market surely occured, but maybe some made it into new Steem investors Steem Power.

Steemit SMT's are the most exciting news on the near horizon. Maybe good enough reason to buy the dips in this bull run for a while.

Watch and see!

Thank you for your continued contributions to Steemit.com Hive account@lukestokes, and may your 2018 be bountiful.

-Tsundere