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Ki Yang Joo pointed at the outflow of digital coins from cryptocurrency exchanges, which he believes has eased the pressure of sellers.

CryptoQuant CEO Ki Yang Joo is confident that Bitcoin is ready for a new price spike. As an argument, the analyst cited a graph that indicates the outflow of bitcoin from cryptocurrency exchanges. This eased selling pressure, the analyst said. Ki Yang Joo noted that a similar situation is developing on the Ethereum chart.

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