#美联储放鹰
Bitcoin exchange reserves have fallen to a historic low, potentially reaching the $120,000 mark!
Recently, Bitcoin's price has skyrocketed, breaking through the historic peak of $108,000, attracting the attention of many retail investors, especially after U.S. President Trump proposed the establishment of a national Bitcoin reserve, sparking heated discussions. One of the key drivers of this surge is the sharp decline in foreign exchange reserves, which have now reached a historic low of 2.4 million Bitcoins.
With demand outstripping supply, the pace at which Bitcoin approaches $120,000 seems to be getting closer.
Historic low of Bitcoin exchange reserves
This trend reflects a shift in investors' attitudes towards Bitcoin, particularly among institutional investors. They are increasingly adopting a “long-term hold” strategy, withdrawing Bitcoin from exchanges and turning it into long-term collections.
This demonstrates institutional investors' strong confidence in the future of Bitcoin, as they are optimistic about the potential of this cryptocurrency.
Potential risks in the future still need attention
Despite favorable supply-side trends, Bitcoin's demand still faces some uncertainties.
Although Bitcoin prices are soaring, the Coinbase premium index has shown a decline. This indicates that the recent price increase may not be fully driven by U.S. demand, raising concerns about whether the mid-term rise in Bitcoin can be sustained.
Is the 21 million Bitcoin supply a lie? BlackRock sparks controversy
Bitcoin may soon reach $120,000
As reserves decrease and Bitcoin's scarcity intensifies, its price has been climbing. At the beginning of 2024, the price of Bitcoin was about $40,000. By November, it had surpassed the $100,000 mark, even reaching a new high of $108,000.
With Bitcoin supply tightening and demand remaining strong, experts predict that from the end of 2024 to 2025, Bitcoin may continue to break price records. If the current trend continues, Bitcoin is expected to set new highs, and it may even break the $120,000 mark.
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