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On-chain Bitcoin and derivatives data suggests market optimism: analyst

Bitcoin price is currently above the $$ 60,000 mark amid bullish on-chain and derivatives market signals. CryptoQuant charts show that bitcoin exchange reserves on centralized exchanges in August fell to a multi-year low. Since the end of July, the supply of bitcoin on exchanges has fallen from over 2.75 million to around 2.67 million — a 3% drop in the past 30 days.

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