Binance has just reached a new milestone with stablecoin reserves hitting an all-time high of 31 billion USD, nearly five times the 7 billion USD in June 2023. 📈 This indicates strong buying pressure, reflecting the robust confidence of investors in the market.

This development occurs alongside Bitcoin's potential breakout above 120,000 USD, thanks to strong fundamentals and Binance's increasing stablecoin reserves. Although Bitcoin is trading below 94,000 USD after a 13% correction from its peak of 108,300 USD, analysts predict a new peak in January.

Data from Glassnode shows that short-term holders still have an unrealized profit of an average of 7.9%, indicating that many recent buyers entered the market below the current price. 🧐