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1/10-Going through the 2nd week of the biggest corrections of this cycle (~ 50%), the ultimate questions in market are,
-Whether the cycle is over?
-How are the Exchange Flow conditions?
-What is the picture that on-chain metrics are giving about market in long-term?
🧵🔽
2/10- All-Exchanges Reserve has been declining since the beginning of this bull market. This trend was then upward on April 24th after prices dropped 64K > 50K [1A] = on-chain bearish sign.
3/10-Overall increasing level of bitcoin reserve on exchanges was due to Derivative-Exchanges (@Binance, @Bitrex )[1B]. The interesting point to notice here was the uninterrupted downtrend of bitcoin reserve on Spot-Exchanges (@Coinbase, @Kraken)[1C].
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