This Metric Printed In 2017 Before Bitcoin Exploded: Is A Mega Run Incoming?
Summary
An analyst highlighted a sharp drop in the 7-day average Flow indicator at leading crypto exchanges, similar to a pattern observed before Bitcoin's historic bull run in 2017. Another analyst noted that the available Bitcoin supply dipped below 4.6 million for the first time before the network halved miner rewards, potentially leading to a supply squeeze and higher prices. The SEC approved the first spot Bitcoin ETFs in January 2024, which could impact price action. These factors may influence Bitcoin's rally, with historical patterns and technical formations also playing a role.
