"Bitcoin (BTC) Transfer Volume on U.S. Exchanges Recovers...Signal for Second Half Rally"
JH Kim
Summary
- The Bitcoin (BTC) transfer volume on U.S. exchanges has turned to an upward trend, signaling a potential rally in the second half.
- A CryptoQuant analyst stated that the BTC transfer volume on U.S. exchanges, which had been decreasing, is now rebounding.
- This trend is similar to the early stages of past bull markets, suggesting a potential increase in Bitcoin prices in the second half.
The Bitcoin (BTC) transfer volume on U.S. exchanges, which had been on a decline, has recently turned to an upward trend, suggesting it could be a signal for a rally in the second half of the year.
On the 16th (local time), according to the cryptocurrency media outlet Cointelegraph, CryptoQuant analyst Axel Adler Jr. explained, "Looking at the Bitcoin transfer volume ratio between U.S. and offshore exchanges (US vs. offshore ratio), the BTC transfer volume on U.S. exchanges began to decline after Bitcoin hit an all-time high in January this year."
He continued, "However, it is recently showing a rebound, which is similar to the trend observed in the early stages of past bull markets."
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
