Bitcoin: Will Exchange Flows decide BTC’s future price action? – BitRss

• Bitcoin saw a price recovery after significant exchange outflows reduced selling pressure.
• The number of new Bitcoin addresses has increased, reflecting growing retail interest.

Bitcoin’s [BTC ($86,276.67)] price movements over recent days have drawn considerable attention, particularly as the cryptocurrency experienced both a sharp decline and a subsequent rebound.

This price action came in the wake of reports regarding a new U.S. crypto reserve initiative, which included Bitcoin and other major cryptocurrencies.

Bitcoin reacts to Crypto Reserve development

Initially, Bitcoin surged above $94,000 before stabilizing at just over $92,000 at the time of writing. In addition to these price swings, data from CryptoQuant has highlighted notable activity among cryptocurrency exchanges.

According to analyst KriptoBaykusV2, large inflows and outflows of Bitcoin…