DavidPBitcoin2021-09-07

Will exchange reserves reach the green box?

As shown, the spectacular runup in late 2020-early 2021 was preceded by a HUGE exchange outflow from Sep to Nov 2020. Price continued climbing even after outflows leveled off, creating a divergence (in yellow), but then dropped hard when inflows spiked (red). Happily, exchange outflows have resumed (far right green) but are not quite to their low point (green box). If current exchange outflows continue, they will reenter the green box soon, which should be a very good sign for subsequent PA