TradingView.com<\/a><\/figcaption><\/figure>\nFeatured image created with DALL-E, Chart from TradingView<\/p>\n","protected":false},"excerpt":{"rendered":"
According to market signals that have historically preceded major price rallies, Bitcoin is gearing up for its next potential bull run. A CryptoQuant analyst\u00a0named ‘Tarek’ has recently\u00a0highlighted key indicators in a post on the CryptoQuant QuickTake platform, suggesting that Bitcoin\u2019s price might soon experience a significant upward movement. These indicators include declining Bitcoin reserves on exchanges and increasing stablecoin reserves, which create an optimistic market outlook. Related Reading: Is Bitcoin Heading For A Bear Market? Analysts Weigh In On The Price Struggles Key Indicators Signal Growing Buying Power According to the report shared by Tarek, over the past several months, Bitcoin\u2019s exchange reserves have been on a downward trend, a phenomenon that often signals reduced selling pressure. When investors move their Bitcoin to cold storage, it limits the available supply on exchanges, which can result in a tighter market. This shift in supply dynamics is generally seen as bullish, suggesting that investors are holding their Bitcoin with the expectation of future price increases. In contrast to the decreasing Bitcoin reserves, Tarek highlighted that stablecoin reserves on exchanges are also rising. Notably, stablecoins such as USDT and USDC are widely used to store value during market uncertainty, allowing traders to deploy capital quickly when the right opportunity arises. The rising stablecoin reserves suggest that market participants are preparing for a potential entry point, further strengthening the bullish outlook for Bitcoin. This combination of shrinking Bitcoin reserves and rising stablecoin reserves creates an environment ripe for a price breakout. Tarek noted: The combination of shrinking Bitcoin reserves and rising stablecoin reserves sets the stage for a bullish price breakout. With reduced Bitcoin supply and growing buying power, the market is primed for a potential upward move. Historically, this supply-demand imbalance has led to significant price gains. Concluding the report, Tarek mentioned that the occurrence of a major rally might be as close as in the “coming weeks,” noting: As the market supply tightens and buying power builds, we could be on the verge of a price rally. Investors should stay alert for a potential breakout in the coming weeks. Bitcoin Current Market Performance Amid the bullishness in Bitcoin’s on-chain data, the asset still struggles to make a major move above the $60,000 psychological price level. So far, BTC has declined by 1.6% in the past day and 2.3% in the past week, pushing its price below $57,000 once again to trade for $56,047 at the time of writing. Related Reading: New ATH Incoming? Analyst Reveals Why Bitcoin\u2019s Next Rally Is Around the Corner Interestingly, despite the consistent decline in BTC’s price, the daily trading volume of the asset appears to be seeing an opposite trend, rising from below $15 billion last week to above $34 billion. Featured image created with DALL-E, Chart from TradingView<\/p>\n","protected":false},"author":580,"featured_media":641254,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[88240],"tags":[428,93035,12210,1119,78790,6664,83531],"class_list":["post-641245","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin-news","tag-bitcoin","tag-bitcoin-exchange-rserves","tag-bitcoin-supply","tag-btc","tag-btcusdt","tag-crypto","tag-cryptoquant"],"acf":[],"yoast_head":"\n
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A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others. Edyme\u2019s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more determined, channeling his experience into over three years of insightful market analysis. Before becoming the voice of reason in the crypto space, Edyme was the quintessential crypto degen. He aped into anything that promised a quick buck, anything ape-able, learning the ropes the hard way. 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A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others. Edyme\u2019s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more determined, channeling his experience into over three years of insightful market analysis. Before becoming the voice of reason in the crypto space, Edyme was the quintessential crypto degen. He aped into anything that promised a quick buck, anything ape-able, learning the ropes the hard way. These hands-on experience through major market events\u2014like the Terra Luna crash, the wave of bankruptcies in crypto firms, the notorious FTX collapse, and even CZ\u2019s arrest\u2014has honed his keen sense of market dynamics. When he isn\u2019t crafting engaging crypto content, you\u2019ll find Edyme backtesting charts, studying both forex and synthetic indices. His dedication to mastering the art of trading is as relentless as his pursuit of the next big story. Away from his screens, he can be found in the gym, airpods in, working out and listening to his favorite artist, NF. Or maybe he\u2019s catching some Z\u2019s or scrolling through Elon Musk\u2019s very own X platform\u2014(oops, another screen activity, my bad\u2026) Well, being an introvert, Edyme thrives in the digital realm, preferring online interaction over offline encounters\u2014(don\u2019t judge, that\u2019s just how he is built). His determination is quite unwavering to be honest, and he embodies the philosophy of continuous improvement, or \u201ckaizen,\u201d striving to be 1% better every day. His mantras, \u201cGod knows best\u201d and \u201cEverything is still on track,\u201d reflect his resilient outlook and how he lives his life. In a nutshell, Samuel Edyme was born efficient, driven by ambition, and perhaps a touch fierce. He\u2019s neither artistic nor unrealistic, and certainly not chauvinistic. Think of him as Bruce Willis in a train wreck\u2014unflappable. Edyme is like trading in your car for a jet\u2014bold. He\u2019s the guy who\u2019d ask his boss for a pay cut just to prove a point\u2014(uhhh\u2026). He is like watching your kid take his first steps. Imagine Bill Gates struggling with rent\u2014okay, maybe that\u2019s a stretch, but you get the idea, yeah. Unbelievable? Yes. Inconceivable? Perhaps. Edyme sees himself as a fairly reasonable guy, albeit a bit stubborn. Normal to you is not to him. He is not the one to take the easy road, and why would he? That\u2019s just not the way he roll. He has these favorite lyrics from NF\u2019s \u201cClouds\u201d that resonate deeply with him: \u201cWhat you think's probably unfeasible, I've done already a hundredfold.\u201d PS\u2014Edyme is HIM. HIM-buktu. Him-mulation. Him-Kardashian. Himon and Pumba. He even had his DNA tested, and guess what? He\u2019s 100% Him-alayan. Screw it, he ate the opp.","sameAs":["https:\/\/x.com\/0xEdyme"],"url":"https:\/\/wncen.com\/author\/samueledymeabayomi\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Bitcoin\u2019s Supply On Exchange Tightens: Could a New Bull Run Be Just Weeks Away?","url":"http:\/\/wncen.com\/bitcoin-news\/bitcoin-supply-on-exchange-tightens-could-a-new-bull-run-be-just-weeks-away\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/bitcoin-news\/bitcoin-supply-on-exchange-tightens-could-a-new-bull-run-be-just-weeks-away\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/09\/DALL\u00b7E-2024-09-11-15.46.58-A-digital-illustration-showing-Bitcoins-supply-on-exchanges-tightening-hinting-at-a-potential-new-bull-run.-The-image-features-a-Bitcoin-symbol-with.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/09\/DALL\u00b7E-2024-09-11-15.46.58-A-digital-illustration-showing-Bitcoins-supply-on-exchanges-tightening-hinting-at-a-potential-new-bull-run.-The-image-features-a-Bitcoin-symbol-with.jpg?fit=1024%2C1024"},"articleSection":"Bitcoin News","author":[{"@type":"Person","name":"Samuel Edyme"}],"creator":["Samuel Edyme"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","bitcoin exchange rserves","bitcoin supply","btc","btcusdt","crypto","cryptoquant"],"dateCreated":"2024-09-12T01:30:13Z","datePublished":"2024-09-12T01:30:13Z","dateModified":"2024-09-12T01:30:13Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin\\u2019s Supply On Exchange Tightens: Could a New Bull Run Be Just Weeks Away?\",\"url\":\"http:\\\/\\\/wncen.com\\\/bitcoin-news\\\/bitcoin-supply-on-exchange-tightens-could-a-new-bull-run-be-just-weeks-away\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/bitcoin-news\\\/bitcoin-supply-on-exchange-tightens-could-a-new-bull-run-be-just-weeks-away\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2024\\\/09\\\/DALL\\u00b7E-2024-09-11-15.46.58-A-digital-illustration-showing-Bitcoins-supply-on-exchanges-tightening-hinting-at-a-potential-new-bull-run.-The-image-features-a-Bitcoin-symbol-with.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2024\\\/09\\\/DALL\\u00b7E-2024-09-11-15.46.58-A-digital-illustration-showing-Bitcoins-supply-on-exchanges-tightening-hinting-at-a-potential-new-bull-run.-The-image-features-a-Bitcoin-symbol-with.jpg?fit=1024%2C1024\"},\"articleSection\":\"Bitcoin News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Samuel Edyme\"}],\"creator\":[\"Samuel Edyme\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"bitcoin exchange rserves\",\"bitcoin supply\",\"btc\",\"btcusdt\",\"crypto\",\"cryptoquant\"],\"dateCreated\":\"2024-09-12T01:30:13Z\",\"datePublished\":\"2024-09-12T01:30:13Z\",\"dateModified\":\"2024-09-12T01:30:13Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/09\/DALL\u00b7E-2024-09-11-15.46.58-A-digital-illustration-showing-Bitcoins-supply-on-exchanges-tightening-hinting-at-a-potential-new-bull-run.-The-image-features-a-Bitcoin-symbol-with.jpg?fit=1024%2C1024","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/641245","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/580"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=641245"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/641245\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/641254"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=641245"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=641245"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=641245"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}![\"Bitcoin](\"https:\/\/i0.wp.com\/img.cryptoquant.com\/278610\/quicktake\/7VhwcE0j_af61cae3da4d37dabde859e5d94523c3ecfb600d887bda5cfa6c0c37fcbda140.png?resize=1280%2C718&ssl=1\")