Bitcoin & Ethereum, On-Chain Outlook Edition #14 (05/11/2021)

Launch into the weekend with the latest analysis of on-chain data and updates from Qluster Data Labs 👇

Supply on-chain dwindles as Price Action looks to the upside

As the market moves into the new monthly trading session, Qluster Data Labs ascertain the same trend on-chain indicated in the month past. 

  1. Bitcoin (BTC) & Ethereum (ETH) supply continues to decline across exchanges

  2. Positive sentiment for Ethereum remains stable whilst in a price discovery

So what does this mean?

And, more importantly, how have these two points been reflected in the current market? 

To answer these questions, Qluster analysts commence by first addressing the on-chain update for Bitcoin.

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