Exchange Balances have been falling again the last few weeks, which is bullish

We had a massive surge in bitcoin being sent to Exchanges in mid to late April.

It can be seen on this chart:

(Source: https://twitter.com/sammytrader51/status/1413587929189031942/photo/1)

Over the last couple weeks though the balances on Exchanges has been falling pretty steadily again.

That may mean a supply shock and higher prices is coming in the not too distant future.

We shall see...