According to the source, Bitcoin (BTC) exchange netflows have fallen to a 3-year low, which the source states signals stronger holder conviction and reduced near-term selling pressure on exchanges. Traders may view this as an indication of less immediate sell-side supply and monitor netflow trends alongside price action for confirmation, according to the source.

According to @intotheblock, Bitcoin has surged past the $90,000 mark, marking a significant milestone in the cryptocurrency market. Currently, 92% of all Bitcoin addresses are in profit, a level not seen since 2021. This high profitability rate is resulting in reduced selling pressure, as holders opt to maintain their profitable positions, potentially stabilizing the market further.