This On-Chain Trend Suggests Bulls are About to Regain Control Over Bitcoin

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Bulls have been struggling to gain decisive control of Bitcoin throughout the past few days and weeks This has resulted in it being quite heavy, with each rally being aggressively sold into as bears aim to push it back down to $30,000 Despite this, the crypto has been able to hold strong within the lower-$30,000 region, and every dip below $30k has been met with massive buy-side support There’s a possibility that this support is coming from institutional buyers One trader is now noting that one on-chain trend does seem to indicate that upside could be imminent in the near-term The balance of BTC being held on exchanges has been plummeting and is the lowest it has been since the macro bottom in December of 2018 Bitcoin has been struggling to gain momentum in either direction, but the aggressive selling into every attempted pump suggests that bears may currently have…

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