🚨BITCOIN BURSTS🔥📈🚨 #btc

The price of Bitcoin has benefited from the upward trend 📈 emanating from the constant accumulation observed by investors. In the last week alone, the total supply of all exchanges increased from 812,000 BTC to 799,000 BTC. This suggests that almost 13,000 BTC worth over $926 million has moved from exchanges to investors' wallets.

Offer of Bitcoin on exchanges. Source: Santiment

This is a sign that BTC holders are expecting prices to rise again, which seems to be the case based on this trend.

On the 3-day chart, Bitcoin validates the Wyckoff model, a technical analysis concept that identifies trends and potential reversals in financial markets. It analyzes price and volume movements to discern accumulation, distribution or markup phases.