Binance’s Bitcoin reserves have dipped below 570,000 BTC, the lowest since January 2024. Historically, similar dips preceded major price surges, raising questions about a potential rally. Bitcoin's price currently sits at $98,680, possibly reaching $187,500 if the January-to-March trend repeats.

Key Insights:

Investor Confidence:

  • The decline in reserves suggests long-term confidence, with investors moving Bitcoin to cold storage.

  • In January 2024, reserves hit similar lows, followed by a 90% price surge to $73,679 in March.

Bitcoin Dominance at 58.4%:

  • Bitcoin’s dominance hovers near 60%, a critical threshold that could signal altcoin rotation if exceeded.

  • Analysts expect a resurgence in dominance post-Christmas, aligning with potential market liquidity.

Price Outlook:

  • Bitcoin has struggled to maintain its $100,000 psychological level since Dec. 19.

  • Analysts, including Ryan Lee of Bitget Research, forecast a trading range of $94,000 - $105,000 this week, with a rally likely after the holidays, according to Cointelegraph.

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