• 28 September, 2024
Bitcoin

CEX Bitcoin Reserves Drop, Stablecoin Growth Signals Bull Run

CryptoQuant analyst Tarek On-Chain notes a sharp decline in Bitcoin reserves on centralized exchanges (CEX), signaling reduced selling pressure and potential price rebounds. This suggests investors are moving Bitcoin to cold storage, limiting supply. Simultaneously, stablecoin reserves are rising, indicating traders are preparing to re-enter the market. Stablecoins represent ready-to-deploy capital, and their growth suggests strong buying interest. Historically, this supply-demand imbalance has led to significant price increases. As Bitcoin supply tightens and purchasing power builds, Tarek forecasts a potential price breakout, advising investors to stay alert for market opportunities in the coming weeks.

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