Analyst: CEX Bitcoin Balance Hits New Low Since 2017, Uptrend in Inflows Continues

BlockBeats News, December 4th, according to The Block, BRN Research analysts stated that despite limited spot momentum, Bitcoin's underlying structure is steadily improving. BRN Research Director Timothy Misir pointed out that, based on CryptoQuant and Glassnode data, exchange balances have dropped to around 1.8 million BTC, the lowest level since 2017. Bitcoin's realized cap (monthly growth) continues to show positive growth, indicating that new funds are continuously flowing into BTC even as the overall market trades within a tightening range.

Misir stated: "The market opened with strong stability, accumulation buying is still ongoing, exchange supply is decreasing, and the price is stable above the true market value. What is currently missing is breaking out of the $96,000–$106,000 range."