Discover why the decline in Bitcoin reserves on Binance could lead to a powerful upward trend. Analysts predict Bitcoin price to reach $110,000 - $130,000 by January.
Bitcoin (BTC) reserves on the Binance exchange have reached their lowest level in 2024. According to CryptoQuant data, this downward trend started in August and resembles a pattern seen in January, after which the Bitcoin price increased by 90%. Simultaneously, OTC trading desks have also reported a significant decrease in their inventory, with 40,000 Bitcoins reduced from their reserves since November 20. Analysts believe this decline in reserves indicates increasing investor confidence in Bitcoin’s long-term potential and could pave the way for a strong upward trend. It is predicted that the price of Bitcoin will reach the range of $110,000 to $130,000 by the end of January.
