On-Chain Trends Show That Bitcoin Investors Expect “Rapid Price Appreciation”

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The total transfer volume of Bitcoin to exchanges has decreased dramatically over the past three days. Analysts see this as a sign that investors think “rapid price appreciation is ahead.” Bitcoin Investors Expect Rapid Price Appreciation Soon Bitcoin has undergone a strong rally over the past few weeks, rallying as high as $13,350. In response to this move, there surprisingly isn’t an influx of investors looking to liquidate their coins for a profit. In fact, on-chain data indicates that investors are not looking to sell their coins. Crypto-asset analyst “Light” shared the chart below just recently. It shows that the total transfer volume of Bitcoin to exchanges has decreased dramatically over the past three days. He sees this as a sign that these investors think upside is likely: “BTC owners are holding onto their asset in the face of rapid price appreciation. Deposits to exchanges are at muted levels. Such…

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