Although Bitcoin$BTC is holding slightly above $108,000, all market attention is focused on the $110,000 mark. Last week, BTC tried to reach this goal, and now it has every chance of success.

The most apparent bullish indicator is the rate of Bitcoin supply reduction on exchanges. As of July 7th, only 2.4 million BTC remains on centralized platforms — the lowest in three years.

Historically, a decrease in exchange supplies indicates that investors are withdrawing coins to cold wallets, thereby reducing selling pressure. This situation often precedes significant price jumps, as supply diminishes, and any sudden spike in demand leaves little time for sellers to respond.

One of the key indicators to watch is the buy-sell ratio. At the time of publication, the ratio stands at 0.95, indicating a slight advantage for sellers. If the ratio increases in the coming days, it could provide the final push to overcome the $110,000 level.$FIS $WCT