Market experts have highlighted that the Bitcoin (BTC) balance on exchanges has reached a level not seen since 2019.
MicroStrategy’s Bitcoin accumulation is reported to outpace the monthly supply of the asset by miners, “shrinking the supply curve from the outside.”
The Bitcoin (BTC) price made a major move on its daily chart from $94k in an attempt to break the $97k resistance level. However, it lost its steam along the way, falling back to the $96.6k level at press time. According to market data, the asset has managed to record gains on four of the five major trading sessions, rising by 1.5% in the last 24 hours, 3.6% in the last seven days, 14.8% in the last 30 days, and 2.3% from year to date.
While the current price level marks an impressive performance from its 30-day low of $74k, analysts still find Bitcoin undervalued as several key indicators point to an all-time-high level position.
In a recent thread, an X page dedicated to Bitcoin-only financial services, Swa
