[Analysis] "Tether Moves Out, Bitcoin Moves to Exchanges... Short-term Bearish Outlook for Bitcoin"

An analysis has emerged predicting a short-term bearish outlook for Bitcoin (BTC).

On the 26th, CryptoQuant contributor onatt reported through a report that "recent on-chain data captured Tether being transferred out of exchanges. Meanwhile, about 15,000 Bitcoins were deposited into exchanges."

He further explained, "These two phenomena indicate the possibility of a short-term decline in Bitcoin. However, this downturn is expected to be merely a short-term correction."