Analyst predicts potential BTC rally amid low exchange inflows and increased outflows

In a recent CryptoQuant post, on-chain analyst AxelAdlerJr noted that crypto exchanges have seen daily Bitcoin (BTC) inflows of about 30,000 over the past few weeks. This level of activity is similar to the record lows of 2016. Previously, a period of such low deposits was followed by a major Bitcoin rally. While this doesn’t necessarily predict a swift price increase, it suggests a potential shortage of Bitcoin on the spot market. The analyst also added that Bitcoin is leaving exchanges, evidenced by the negative Netflow-to-Reserve Ratio for BTC. Historically, these outflows coincided with the end of the bear market. Based on these indicators, AxelAdlerJr predicted a potential upward trend for BTC.