According to Deep Tide TechFlow news on December 30, analyst Axel Adler's latest research shows that the Exchange Netflow-to-Reserve Ratio indicator for Bitcoin exchanges has hit a new low, indicating that the current market is in a significant accumulation phase. Although Bitcoin prices are under pressure at the $100,000 level, on-chain data shows that investors continue to transfer BTC from exchanges to private wallets for long-term holding.
This negative indicator means that the withdrawal volume from Bitcoin exchanges is greater than the deposit volume, indicating that investors tend to hold for the long term rather than engage in short-term trading. This trend is similar to the end of the bear market in 2022, when market panic was strong, and some investors chose to buy heavily when Bitcoin fell to $17,000 and transfer it to cold wallets.
Currently, the price of Bitcoin is trading around $94,800, with $92,000 becoming a key support level. Analysts believe that as exchange reserves continue to decrease, the tightening of market supply may support Bitcoin's future price trends, with $90,000 being a more important demand zone.
