BlockBeats news, December 4th, according to The Block, BRN Research analysts stated that despite limited spot momentum, Bitcoin’s underlying structure is steadily improving. Timothy Misir, Head of Research at BRN, pointed out that according to data from CryptoQuant and Glassnode, exchange balances have dropped to around 1.8 million BTC, the lowest level since 2017. Bitcoin’s realized market cap (monthly growth) remains positive, indicating that even while the overall market is trading in a consolidation range, new funds are continuously flowing into BTC. Misir stated: “The market opened steadily and strongly, accumulation buying continues, exchange supply is decreasing, and the price remains above the true market average. What is currently missing is a breakout of the $96,000–$106,000 range.”
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