The cryptocurrency market appears to be gearing up for its next upward trend as several key indicators, includingBitcoin's (CRYPTO: BTC) Exchange Flow Multiple, show signs of accumulation.

What Happened: The Exchange Flow Multiple (30-day/365-day) – an indicator measuring the ratio between short-term and long-term inflows and outflows of Bitcoin on exchanges – has reached its lowest point this year, suggesting decreased volatility in Bitcoin exchange flows, according toCryptoQuant.

A decline in this indicator points to a significant drop in short-term inflows and outflows, which is often a reflection of investors accumulating assets in anticipation of...