BTC optimism sparks as exchange supply hits 6-year low
Bitcoin breeds a wave of cautious optimism among traders following the breach above $28,000, as supply on exchanges hit a six-year low amid high whale activity. Santiment highlighted this trend in its latest monthly report, pointing out several metrics compounding the renewed optimism . The report confirmed that as Bitcoin (BTC) surged past $28,000, traders held their breath, waiting to see if the momentum would persist. October started with a bang, and then calmed down in a hurry. But there is reason to be optimistic with whale accumulation and the supply on exchanges at about a 6-year low. Check out our latest monthly report, and read what to be on the lookout for. https://t.co/54wxJqU4q6 pic.twitter.com/2VJO5ofY9u — Santiment (@santimentfeed) October 3, 2023 Bitcoin has experienced numerous similar “breakouts” over the past years, often followed by mild corrections. However, this time, the optimism was palpable amid BTC’s 6.6% one-month increase. ...