Binance Bitcoin reserves plummet to January low, will BTC repeat the 90% surge miracle?
Binance's Bitcoin reserves recently fell below 570,000 BTC, hitting a new low since January 2024. Just two months after a similar situation last time, Bitcoin surged by 90%! Will history repeat itself this time?
According to CryptoQuant analyst Darkfost's data, the decline in reserves is often a signal that investors are moving Bitcoin to cold wallets, indicating strong confidence in the long-term price increase of BTC. Looking back at January, Binance's reserves hit rock bottom, and subsequently, in March, Bitcoin soared to an all-time high of $73,679. This logic of "withdrawal = positive momentum" seems to be reemerging.
Additionally, Bitcoin's dominance currently hovers around 58.4%, just a step away from the key psychological line of 60%. Some analysts believe this could trigger a wave of capital flowing back to other crypto assets. However, Bitget Research's chief analyst Ryan Lee points out that the recovery of market liquidity after Christmas may become a catalyst for BTC to break through $105,000.
The current price hovers around $98,680. Will it replicate the logic of low reserves-high gains from January? And will there be a real breakthrough after the holiday? The gears of history are turning, but do you already understand its direction?
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