Bitcoin is showing signs of a potential upward trend, with several on-chain metrics turning positive. Exchange inflows have sharply declined, indicating a shift in sentiment towards Bitcoin, while outflows have increased, suggesting investors are choosing to hold onto their assets rather than sell. Additionally, the total Bitcoin netflow has turned negative, with a net outflow of 3,560 BTC in the past 24 hours, historically a bullish signal. With a 3.93% shift towards the bid side, indicating more buyers than sellers, and a positive futures market derivatives momentum, all signs point to a bullish outlook for Bitcoin today. As Bitcoin is currently trading at $64,257, it's likely that the price will continue to rise, potentially leading to a short squeeze.
