BlockBeats News, December 4th, according to The Block, BRN Research analyst stated that despite limited spot momentum, Bitcoin’s fundamental structure is steadily improving. BRN Research Director Timothy Misir pointed out that according to CryptoQuant and Glassnode data, exchange balances have dropped to around 1.8 million BTC, the lowest level since 2017. Bitcoin’s realized market cap (monthly growth) continues to show positive growth, indicating that new funds are constantly flowing into BTC even as the overall market trades in a narrowing range.
Misir said: “The market opened with strong stability, accumulation buying is still ongoing, exchange supply is decreasing, and the price is stable above the true market value. What is currently lacking is a breakthrough in the $96,000–$106,000 range.”
