4 on-chain metrics suggest Bitcoin price rally may not stop at $16,000

After rejecting at $15,960 on Nov.6 Bitcoin (BTC) price has been defending the $15,000 support level with strength. Based on four on-chain data points, analysts believe the rally might continue beyond $16,000.

Analysts have pinpointed lower Bitcoin exchange reserves, unmoved supply, a rise in “stronger hands,” and unrealized profits as factors for the rally to continue.

The number of BTC held on exchanges drops

Recently, Delphi Digital, an independent cryptocurrency research and consulting…


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