An analyst has explained how Bitcoin will likely continue the latest bullish swing, at least in the short-term.
Bitcoin Spot Exchange Supply Has Been On The Decline Recently
In a new post on X, analyst Willy Woo has discussed the short-term and medium-term trajectories that BTC could follow. For the former, the analyst says the bullish trend would continue, with “likely 1 week left in play.”
In the medium term, things appear to be more complicated, as Woo has pointed out the trend forming in the Bitcoin inventory sitting on centralized exchange platforms.
Below is the chart shared by the analyst that shows the trajectory in the value of this metric over the last few years.
As is visible in the above graph, the Spot Bitcoin exchange supply (the blue line) has declined recently, suggesting that investors have been withdrawing their coins into self-custodial wallets.
Generally, one of the main reasons investors keep their coins on spot platforms is for selling purposes, s
We współpracy z: https://www.newsbtc.com/bitcoin-news/bitcoin-bullish-swing-top-analyst-says-yes/
