Bitcoin Holding Intact Despite New All-Time Highs Signals Potential Upside

The diagram displays the ratio of Bitcoin exchange flows to network activity, calculated using a 30-day moving average. Exchange flows involve the transfer of tokens between wallets and exchanges, while network activity reflects the overall transactional activity within the blockchain. When network activity is high and exchange flows are low, it indicates that numerous transactions are happening on the blockchain, but fewer bitcoins are being moved to exchanges for trading or selling. This situation results in a declining indicator, often seen as a sign that holders are choosing to retain their coins. Notably, this ratio has hit its lowest point in the past two years, which could be a bullish indicator for price appreciation.