Bitcoin Mega Bull Ahead? Exchange Balances Keep Plummeting
- Investor sentiment has flipped bullish.
- Bitcoin exchange balances continue to sink.
- Bitcoiners were bullish well before the central banks pivoted.
The Fed and the People’s Bank of China have embraced monetary expansion , delivering a much-needed boost to crypto markets. This renewed optimism has driven $90 billion in inflows this week, pushing token prices higher.
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Amid the renewed optimism, Bitcoin held on exchanges continues to decline, suggesting Bitcoiners remain as bullish as ever.
Bitcoin Exodus from Exchanges Accelerates
Bitcoin surged to an 8-week high of $65,800 on Thursday, pushing market sentiment firmly into greed territory , according to the Crypto Fear and Greed Index. At the same time, Bitcoin exchange balances continue to decline.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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