Source: Cointelegraph Original: "{title}"
The cryptocurrency trading platform located in the United States is regaining influence in the volume of Bitcoin token transfers, which could trigger a rebound in the second half of 2025.
Bitcoin researcher Axel Adler Jr pointed out that the "U.S. to offshore exchange ratio" (which measures the token transfer volume between U.S. regulated exchanges and offshore exchanges) shows that the dominance of U.S. exchanges has declined since Bitcoin reached an all-time high in January.
As shown in the chart, a trend reversal for Bitcoin is underway, indicating that the Bitcoin transfer volume on U.S. exchanges is starting to rise again, consistent with previous bull market rebound trends.
A key technical indicator in the chart is the 90-day simple moving average (SMA) crossing above the 365-day SMA. Historically, whenever this crossover occurs, it triggers significant price increases. For example, when this signal appeared at $60,000, Bitcoin began a surge within a week. This suggests that a price explosion may occur in the coming weeks.
Similarly, verified on-chain analyst Boris Vest stated that Bitcoin is still undervalued. In a brief analysis article from CryptoQuant, Boris explained that Bitcoin's exchange reserves have dropped to levels seen in 2018, with only 2.43 million BTC on exchanges compared to 3.4 million BTC in 2021, indicating that Bitcoin is being held long-term and supply is decreasing.
The Bitcoin stablecoin supply ratio (SSR) is at 14.3, indicating that purchasing power remains strong, as this ratio is below the levels seen in 2021. Boris stated:
"Since this ratio has not yet rebounded to 2021 levels, we can say that Bitcoin is still undervalued. This suggests that the bull market and buying pressure may continue."
Bitcoin flips key monthly indicator, paving the way to $90,000
Market analyst Dom noted that Bitcoin's recent multi-month downtrend has broken just as Bitcoin has flipped its monthly volume-weighted average price (VWAP) to support for the first time since January.
The volume-weighted average price (VWAP) is a technical indicator used to calculate the average price weighted by volume. Traders use VWAP to assess trend changes, identify support or resistance, and determine whether an asset is overbought or oversold.
Dom stated, "The bulls have successfully maintained these two levels for four days now, which we haven't seen in months. If we break yesterday's high, I believe Bitcoin will approach $90,000."
However, João Wedson, founder of Alphractal, remains cautious as Bitcoin approaches $86,000. He explained that if Bitcoin breaks this level, waiting for a pullback is the right approach; otherwise, there could be bearish control. This also aligns with Alphractal's analysis of $86,300 as a key resistance area, which could become a bull trap.
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This article does not constitute investment advice or recommendations. Every investment and trading decision involves risks, and readers should conduct their own research before making decisions.
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