As Bitcoin [BTC] moves above $20,000, has the king token decided to make a slow recovery this time around? - Aliens: AI Crypto News & Markets Updates
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As Bitcoin [BTC] moves above $20,000, has the king token decided to make a slow recovery this time around?

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AMB Crypto

Sun, Jun 26, 2022

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Bitcoin [BTC] has once again become the talk of the town especially after its latest recovery in the crypto market.

There are some interesting developments observed in BTC data that suggests a mixed prediction for Bitcoin’s immediate future.

Firstly, Bitcoin’s supply on exchanges has dropped to its 2018 levels.

As per data from Glassnode, the BTC supply on centralized exchanges crossed 2.4 million in March 2018 and has never dipped below this.

Historically, exchange outflows and low supply on exchanges have been bullish signs for Bitcoin.

The trading volume of BTC has dropped to 27% in the past day.

Despite the ongoing mixed signals in the market, few prominent members of the crypto community remain bullish on cryptocurrencies despite the recent slump.

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