Scan to Download Gate App
qrCode
More Download Options
Don't remind me again today

Analyst: CEX Bitcoin balance hits lowest level since 2017, accumulation momentum continues

BlockBeats news, December 4th, according to The Block, BRN Research analysts stated that despite limited spot momentum, Bitcoin’s underlying structure is steadily improving. Timothy Misir, Head of Research at BRN, pointed out that according to data from CryptoQuant and Glassnode, exchange balances have dropped to around 1.8 million BTC, the lowest level since 2017. Bitcoin’s realized market cap (monthly growth) remains positive, indicating that even while the overall market is trading in a consolidation range, new funds are continuously flowing into BTC. Misir stated: “The market opened steadily and strongly, accumulation buying continues, exchange supply is decreasing, and the price remains above the true market average. What is currently missing is a breakout of the $96,000–$106,000 range.”

BTC-0.98%
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • 1
  • Repost
  • Share
Comment
0/400
CanYouCheckMyWaterFvip
· 6h ago
Stop posting essays, it's time to drop.
View OriginalReply0
  • Pin
Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate App
Community
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)