BTC, ETH Exchange Flows Settle Down; Bull Run When? – Crypto News – Crypto News
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BTC, ETH Exchange Flows Settle Down; Bull Run When? – Crypto News

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Bitcoin Price New: The biggest digital assets like Bitcoin (BTC) and Ethereum (ETH) have been enjoying a relief rally since the beginning of 2023. The ongoing price rally has helped the crypto market to recover from the horrific collapse of 2022. However, recent data reveals that good times for the crypto market might be ahead. now.

CEX collapse fear drops

As per the data provided by IntoTheBlock, exchange flows for Bitcoin and Ethereum have settled down now. This has been recorded as the lowest outflow since Sam Bankman-Fried’s FTX horrific crash. This also depicts that the centralized exchange related fears have been easing down.

However, a report by CryptoQuant stated that aggregate Bitcoin moved on the network has reached the low of 2020. This can be a positive signal for Bitcoin traders. 2022 saw some capitulation which led to some huge BTC movement.

Data depicts that a low activity has taken over the network. A trend reversal and some good high movement in coin trading can prove to be a good indication of a bull run ahead.

Bitcoin price spikes by 11%

Bitcoin price has surged by a whopping 11% in the last 24 hours. BTC went on to touch the crucial $21k price level. Bitcoin price registered a new high on November 8, 2022. BTC is trading at an average price of $20,926, at the press time.

Ashish believes in Decentralization and has a keen interest in evolving Blockchain technology, Cryptocurrency ecosystem, and NFTs. He aims to create awareness around the growing Crypto industry through his writings and analysis. When he is not writing, he is playing video games, watching some thriller movie, or is out for some outdoor sports. Reach me at [email protected]

The content presented may include the personal opinion of the author and is subject to market conditions. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.

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