📉 According to the weekly market report of the cryptocurrency exchange Bitfinex, bitcoin (BTC) reserves in central exchanges have decreased to the levels seen since January 2018.
• According to Bitfinex Alpha Report, there are currently only 2.03 million BTC on exchanges.
• It was stated that there is a relationship between the decrease in stock exchange reserves and the increase in cryptocurrency prices.
🚀 The market is thought to be ready for a bull run.
• Bitfinex announced that BTC reserves have been declining since peaking in March 2020.
• As cryptocurrency prices increased, exchange reserves continued to decrease.
• It is thought that there is an inverse relationship between the price of BTC and the stock market reserves.
Long-term investors and a majority of short-term investors are currently in the HODL stage and are ready to hold their assets for longer periods of time.
• Owners of 12-18 month supply are currently ready to make a profit from some of their assets.
• Long-term and short-term owner supply remained inactive.
• Bitfinex stated that investors are confident that BTC will not experience a major decline from its current price.
Bitfinex analysts noted that October was green in three cases where BTC ended September on a positive note. October is a month when BTC recorded positive movements regardless of September's performance.
• According to Bitfinex Alpha Report, there are currently only 2.03 million BTC on exchanges.
• It was stated that there is a relationship between the decrease in stock exchange reserves and the increase in cryptocurrency prices.
🚀 The market is thought to be ready for a bull run.
• Bitfinex announced that BTC reserves have been declining since peaking in March 2020.
• As cryptocurrency prices increased, exchange reserves continued to decrease.
• It is thought that there is an inverse relationship between the price of BTC and the stock market reserves.
Long-term investors and a majority of short-term investors are currently in the HODL stage and are ready to hold their assets for longer periods of time.
• Owners of 12-18 month supply are currently ready to make a profit from some of their assets.
• Long-term and short-term owner supply remained inactive.
• Bitfinex stated that investors are confident that BTC will not experience a major decline from its current price.
Bitfinex analysts noted that October was green in three cases where BTC ended September on a positive note. October is a month when BTC recorded positive movements regardless of September's performance.