4 Crucial On-Chain Trends Show That Bitcoin’s Trend Is Bullish

Bitcoin has dropped over the past few days after news revealed that OKEx had frozen withdrawals. The price of the leading cryptocurrency slipped from $11,750 to $11,450 where it is now. The leading cryptocurrency is primed to appreciate in the long run despite short-term weakness. One crypto-asset analyst noted that there is a confluence of on-chain trends showing Bitcoin is bullish. Four of those metrics are as follows. Bitcoin’s On-Chain Trends Are Bullish, Data Shows Citing data from blockchain analytics firm CryptoQuant, a crypto-asset analyst thinks that Bitcoin remains in a macro bull trend. He recently shared a confluence of on-chain trends showing why this is the case. Four of these trends are as follows: The “exchange whale ratio,” which tracks how much Bitcoin large holders have deposited on exchanges, is currently low. This metric is the lowest it has been since the 2018 lows, suggesting that there is minimal…

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