Massive Bitcoin Outflows Rock Crypto Exchanges As Charts Signal Extreme Bullish Winter
The last time such a huge depletion happened was in September 2021, ushering in a bull market that saw a price surge by over 66%. Exchange outflows are considered bullish for the market as they are seen as reducing the risk of selling Bitcoin, leading to a price plunge.
"The Fed Put May Have Expired vs. Bitcoin's Supply, Set by Code - Bitcoin faces a challenge in 2022 vs. declining risk-assets, but the crypto has potential to endure, we believe," he argues.
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