Is the price of Bitcoin about to rise? The analyst predicts a bullish trend based on key on-chain figures

Analyst BorisVest from CryptoQuant once again drew attention to Bitcoin by pointing out its undervalued potential through many key on-chain metrics. BorisVest provides market analysis showing positive trends based on the reduction in exchange reserves and the Bitcoin Stablecoin Supply Ratio (SSR), both of which signal bullish price moves. Various on-chain metrics suggest that the market may be about to experience a significant bull run despite Bitcoin's market performance. Bitcoin Exchange Reserves: A Strong Indicator of Supply Tightness BorisVest considers the reduction of Bitcoin exchange reserves as a positive indicator of price growth. Bitcoin holdings on the exchange have declined significantly since the 2021 bull market, when reserves reached 3.40 million BTC, to the current level of 2.43 million BTC. The sudden drop in Bitcoin reserves at trading platforms saw investors move their funds away from exchanges to expand ownership instead of trading.

The price of Bitcoin may increase due to the decrease in the amount of coins offered by the exchange in the coming months. Available market supply decreases in value due to limited selling opportunities while demand continues to grow. As investors expressed growing confidence in Bitcoin maintaining its long-term value, they decided to store their assets instead of withdrawing cash for short-term financial gains. A significant increase in Bitcoin's price can be foreseen because its supply-demand relationship is unbalanced. Bitcoin Stablecoin Supply Rate (SSR): An Indicator of Low Valuation The Bitcoin Stablecoin supply ratio (SSR) shows signs pointing to the undervaluation of Bitcoin assets. The Bitcoin Stablecoin supply ratio is (SSR) currently 14.3, lower than the previous 34 recorded in 2021. Bitcoin Stablecoin Supply Ratio measures how much USDT, along with other stable currencies, exists relative to Bitcoin's market value, indicating purchasing power across the market.

According to Borisvest, the low Supply Stability Ratio indicates that the stablecoin possesses enough purchasing power to sustain Bitcoin's price despite the downtrend. Increased SSR creates conditions that lead to a decrease in the market value of purchases and the possibility of overpricing. The current under-2021 SSR suggests that Bitcoin needs to rise in price due to the low valuation status of the market compared to current market demand. Optimistic sentiment: Is Bitcoin price about to rise sharply? Some price movements have occurred recently, but Bitcoin maintains an overall optimistic outlook. The market shows continuous improvements in key figures, suggesting that the cryptocurrency is poised to experience a bull run Bitcoin's relative strength index recently exited a prolonged decline, thus suggesting that potential buying momentum is progressing. Market analysts watch how the RSI breaks through key support signs as the phenomenon suggests that Bitcoin will experience price growth.

Bitcoin stablecoins face a potential market turnaround as investors move their funds from less risky stablecoins to volatile assets, including Bitcoin and alternative cryptocurrencies. This move will push the price of Bitcoin higher, increasing market demand. Research analysts predict an upcoming bull run by the market as investments remain strong. Conclusion: Should Investors Be Bullish on Bitcoin? On-chain figures suggest that Bitcoin can survive at remarkably low prices despite its current market rate. Bitcoin shows significant upside potential as its exchange reserves continue to decline and SSR measurements show high purchasing power. The bullish signs are accompanied by increased institutional participation, making Bitcoin look powerful for long-term success. Investors should consider buying Bitcoin now at a lower price than it is now because the market has upside potential. Positive data in chain analysis should be weighed against broader market trends and global economic developments