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Blockchain analytics firm Santiment says it has bullish indicators for four cryptocurrencies, including Bitcoin (BTC) and Cardano (ADA).
crypto analysis platform To tell Trader sentiment has turned positive for BTC, ADA, Binance Coin (BNB), and XRP on hopes that the market will turn around in Q4.
The bullish level among traders has reached a 30-day high, according to the analytics platform.
The crypto crowd is not euphoric for the market. However, the persistent negativity and bearishness is fading as traders anticipate a rebound in Q4. BTC , BNB, XRP, and ADA all show bullish trends, while ETH is slightly bearish.
Bitcoin is trading at $19,214 at the time of writing, while Binance Coin, XRP and Cardano are trading at $272.8, $0.464 and $0.354 respectively.
About the amount of Bitcoin held on the exchange, Santiment To tell The daily volume of flagship crypto assets leaving trading platforms recently hit a four-month high, further reducing the risk of selling.
Bitcoin supply on exchanges is currently at its lowest level in four years, according to Santiment.
Bitcoin saw a large amount of coins move from exchanges yesterday, the highest amount (40,572 BTC) per day in four months. Coin supply on exchanges was 8.48%. As the supply of exchange decreases, the risk of future sales is mitigated.
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Featured Image: Shutterstock/DomCritelli
