Bitcoin Exchange Reserves Don Hit Multi-Month High
On-chain data dey show say Bitcoin exchange reserve, wey na on-chain indicator wey dey track total BTC for centralized exchanges, don climb reach 3.383 million coins. Dis level na di highest wey don dey for months and e dey usually signal say selling pressure dey rise. CryptoQuant analyst Maartunn talk say net deposits dey usually happen before BTC sell-offs. Di surge for deposit dey match di recent bearish price action. Meanwhile, Glassnode data show say only 9% of Bitcoin supply dey loss, with maximum loss na 10%, wey shallow pass past cycles. Bitcoin dey trade near $111,200 now, up 2% for 24 hours. Traders suppose dey monitor exchange reserve and supply-in-loss metrics for trading signals.
Bearish
Di sharp rise for Bitcoin exchange reserves mean say traders dey move coins go centralized platforms, most times to liquidate holdings. For history, when exchange balances dey surge e dey come before selling pressure increase and short-term price go fall. Even though di current drop shallow—only 9% of supply dey loss—the increase for net deposits mean bearish momentum fit continue until inflows slow down. For longer term, if reserves begin dey decline and more BTC comot comot from exchange e fit support recovery, but short-term risk still dey lean towards further downside.