Glassnode Explains: Absence of LTH Losses Key Factor Delaying BTC Bear Market
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- Bitcoin exchange reserves hit multi-year lows, signaling a potential supply squeeze.
- Long-term holders remain strong despite short-term losses, suggesting no confirmed bear market.
- MACD flips bullish while Fib levels hint at a breakout above $88,000 toward $100,000.
Since early 2023, Bitcoin’s exchange reserves have been in free fall, plunging from around 3.2 million BTC to just 2.4 million BTC—a low not seen in years. This steep drawdown signals that investors are pulling their BTC off exchanges, preferring private wallets over exchanges.
This kind of outflow usually aligns with long-term holding behavior and, historically, has often come before major bull runs. Simply put, fewer coins on exchanges means less supply available to sell, as per the data provided by Crypto Banter.
And when you combine that falling supply with signs of increasing demand, it’s why some ana…
The post Glassnode Explains: Absence of LTH Losses Key Factor Delaying BTC Bear Market appeared first on Coin Edition.
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