Bitcoin fell 4% after the holidays, briefly dropping below $95.2k on Thursday. However, data suggests there may be room for upward movement. 📉

CryptoQuant analysis reveals that Binance’s Bitcoin reserves have fallen to their lowest level since early 2024. This decline suggests that investors are betting on long-term potential and are pulling back rather than selling. Such periods are usually associated with positive market momentum.

Bitcoin demand has also increased on OTC desks. This decrease in inventory suggests that demand is increasing and market momentum is strengthening. As Bitcoin’s supply shrinks, this could pave the way for the next rally.

Analysts predict that Bitcoin could reach $120k by the end of January. The market, which emerged from the megaphone formation, is showing bullish signals. While volatility and short-term declines are possible, the overall trend is upward. 🚀