Bitcoin price fundamentals in ‘moon mode’ as BTC held on exchanges drops

Despite an uneventful month for Bitcoin (BTC) price, on-chain metrics suggest that Bitcoin may be gearing for an imminent bull run. Noticeably, the number of Bitcoin held on spot exchanges has been decreasing since the start of the year, according to data from on-chain analytics firms, CryptoQuant, and glassnode.

Crypto analyst, Willy Woo, noted that this change in trend is extremely bullish for Bitcoin as it signals an increased demand for the asset and interest in holding it as a store of…


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