Subsequently, other areas did not align with the demand. Glassnode also revealed that the transaction count, which was previously at a high point of 286,503, had fallen to 241,812.
This indicated that BTC exchange deposits and withdrawals might not be as high as reported. Furthermore, the transaction count may need to appreciate too. This would mean that there is actually greater interest across the market. As such, investors could be left in between confirming the bottom or a further downside.Here, it’s worth pointing out that another CryptoQuant analyst, MAC_D, opined that the Estimated Level Ratio may have confirmed a BTC demand increase. However, he had aA further surge could lead to price inconsistency because the ELR affects volatility and Open interest,.
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