40:60
Bearish:Bullish
On-Chain looking Bullish on a Macro level - we could be ranging in this 20% period like the consolidation ranges before (excluding the initial dump wicks) for a further 10 or 11 days. Given the current outflows and huge increase in BTC to cold storage it is looking like the exit from this consolidation could be bullish.
Total exchange outflows in June peak at -151k BTC/month, with Shrimp and Whales as main receivers.
Although the lack of confidence in Exchanges/Lenders is at an all time low so take with a pinch of salt and could still mean temporary holding in cold storage.
Bearish:Bullish
On-Chain looking Bullish on a Macro level - we could be ranging in this 20% period like the consolidation ranges before (excluding the initial dump wicks) for a further 10 or 11 days. Given the current outflows and huge increase in BTC to cold storage it is looking like the exit from this consolidation could be bullish.
Total exchange outflows in June peak at -151k BTC/month, with Shrimp and Whales as main receivers.
Although the lack of confidence in Exchanges/Lenders is at an all time low so take with a pinch of salt and could still mean temporary holding in cold storage.
