TechFlow news, December 30 — According to Bitcoinist, analyst Axel Adler's latest research shows the Bitcoin Exchange Netflow-to-Reserve Ratio has hit a new low, indicating the market is currently in a significant accumulation phase. Although Bitcoin's price faces resistance around $100,000, on-chain data reveals investors are continuously moving BTC from exchanges to private wallets for long-term holding.
A negative value in this indicator means withdrawals from cryptocurrency exchanges exceed deposits, suggesting investors prefer long-term holding over short-term trading. This trend resembles the end of the 2022 bear market, when, amid intense market panic, some investors aggressively bought Bitcoin at $17,000 and transferred it to cold wallets.
Bitcoin is currently trading around $94,800, with $92,000 serving as a key support level. Analysts believe that as exchange reserves continue to decline, tightening market supply could support future Bitcoin price movements, with $90,000 representing a more significant demand zone.
