Glassnode chart revealed that Bitcoin was experiencing a low exchange balance. The current downtrend might be indicative of a bull trend rather than a bear trend. After the FTX meltdown, Bitcoin [BTC] began a rally that saw its value increase by over 25% and make up for the losses. The rest of the cryptocurrency market […]
had been trading at around $17,000 for November and December 2017. Recent gains of nearly 26% have pushed the price over its level of initial resistance.
It was anticipated that after the rally, a flurry of activities would occur that could lead to a decline in price. However, Glassnode reports that there are fewerAs per the tweet above, BTC’s Balance on Exchanges was 2,249,824.148 BTC, on 18 January, a new all-time low. Before this new low, on December 19, 2022, the volume of Bitcoin first fell to 2,249,845.086 BTC.
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