On-chain data shows that the ratio between Bitcoin profit and loss being sent to exchanges is approaching euphoric bull market levels.
The volume of deposits and withdrawals to exchanges has been increasing recently, indicating rising demand for trading activity among investors.
The average profit from exchange deposits on the Bitcoin network is 12 times larger than losses, aligning with behaviors typically seen in energetic stages of previous bull markets.
As of now, Bitcoin is priced around $105,800, down nearly 5% in the last seven days.