Bitcoin Gearing Up For Next Bull Run? On-Chain Analysis Says It Just Might Be
Portfolio Pulse from Khyathi Dalal
Bitcoin may be on the verge of a bull run due to decreased reserves on exchanges and increased stablecoin reserves, indicating strong buying interest. On-chain analytics suggest a potential price rally as supply tightens and buying power builds.
September 11, 2024 | 1:54 pm
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Bitcoin's potential bull run is supported by decreased exchange reserves and increased stablecoin reserves, indicating reduced selling pressure and strong buying interest. This could lead to a price rally as supply tightens and demand increases.
The decrease in Bitcoin reserves on exchanges suggests reduced selling pressure, while the increase in stablecoin reserves indicates strong buying interest. These factors combined with a supply-demand imbalance suggest a bullish outlook for Bitcoin.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100