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BITCOIN SUPPLY DROPS SHARPLY – GOLDEN OPPORTUNITY FOR A PRICE BREAKOUT?
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BTC reserves on exchanges at a record low!
According to Glassnode, there are only 2.3M BTC left on exchanges – the lowest in 5 years, down from 2.5M BTC three months ago. "Hot supply" (BTC traded in the last 7 days) has also plummeted by 50%, from 5.9% to 2.8% of the total supply. Holders are withdrawing heavily to cold wallets, reducing selling pressure!
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Whales are accumulating frantically:
The number of wallets holding over 1,000 BTC increased by 5% this month. The Bitcoin spot ETF in the U.S. attracted $6.9 billion in capital flow in just 3 weeks. Institutions are very optimistic!
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Technical signals indicate a price surge:
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The "cup and handle" pattern on the daily chart, price target of $138,000.
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Bollinger Bands are narrowing, similar to the period before strong price increases.
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Stablecoin on exchanges is rising, with cash ready to buy.
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Opportunities & risks:
Scarce supply, increasing institutional demand, and positive technical signals are supporting BTC. However, the lack of short-term holders could hinder immediate price increases. Watch the resistance level of $107,500 to confirm the trend!
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Investors please note: Crypto is highly volatile, study carefully and manage risks diligently!
