BTC Exchange Balance Reveals Bullish Signal; Trezor Users Targetted in Attack

Chart of the Day

Over the weekend, the broader crypto market experienced a brief dip but managed to regain some strength in the early hours of Monday (Asian trading hours). At one point, BTC breached the $47.5k level, giving investors a glimmer of hope with regard to a clear breakout above the $48k handle. However, it soon retraced back to the $46k support. As of the time of writing, the largest cryptocurrency by market cap is once again consolidating above the $46k level whilst waiting for the next impulsive uptrend. On the on-chain front, BTC's exchange balance reveals a bullish signal, as the total BTC exchange outflow volume has hit a rate of 96.2k coins per month, a critical volume outflow level that has typically been followed by a rally within the spot market.