Crypto Analyst Says Bitcoin Is Undervalued Despite On-Chain Data, Is An Uptick Ahead? ⋆ ZyCrypto
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A digital asset analyst has pointed to bullish Bitcoin (BTC) on-chain metrics amid recent market uncertainty. Huge institutional inflows coupled with a drop in exchange reserves show that Bitcoin’s price holds greater value when compared to previous cycles. The asset’s profit supply and projected growth also point upwards, with bulls hinting at new targets.
Exchange Outflows Fuel Bull Momentum
After the crypto market recovery, Bitcoin bulls have stretched exchange withdrawals pushing up trader confidence. A digital asset expert Boris Vest noted that exchange reserves have plummeted to 2018 levels showing positions of long-term holdings. At the moment, about 2.43…
