Binance's Bitcoin reserves have recently fallen below 570,000, reaching the lowest level since January this year. When exchange reserves decrease, it usually indicates that investors are transferring Bitcoin to cold wallets, showing confidence in its long-term price trend.
It is worth noting that Binance's Bitcoin reserves also dropped to similar levels in January, and two months later, on March 13, the price of Bitcoin surged 90% to $73,679, setting a new high record at that time. If Bitcoin follows the same pattern again, based on the current price, it is expected to reach $187,500 within a few months.
CryptoQuant analysts point out that when a peak withdrawal period occurs, it is usually a sign that the market is accumulating positive momentum.
After failing to break through $100,000, it dropped $3,000 from $98,500, causing many bulls to stop-loss and exit. Currently, it continues to fluctuate in a narrow range above $95,000, while most other cryptocurrencies are down. After a night of fluctuation, there hasn't been any substantial breakthrough; it remains fluctuating back and forth, indicating that $95,000 still serves as a strong support level!
BGB surged 30% to a new high.
Driven by the news of the merger between BWB and BGB, BGB rose over 30% yesterday, briefly breaking through a new high of $7.9. However, some opinion leaders in the crypto space pointed out that this merger may mean BGB has reached its peak in the short term, as "the project party can legally create a large amount of BGB through the merger for sale."
PENGU is one of the most eye-catching NFT segments in the crypto market in recent years. Although the popularity of NFTs has declined in recent years, the emergence of Pudgy Penguins in this bull market has once again sparked interest in NFTs. Currently, the market capitalization of Pudgy Penguins (PENGU) has reached $2.596 billion, making it the highest market cap meme coin in the Solana ecosystem. Although the future trend is uncertain, PENGU tokens have the potential to inject new vitality into the NFT industry and reignite market interest.
Based on current analysis and historical experience, I hold an optimistic view towards this group of lovely penguins. PENGU is expected to achieve a growth of 5-8 times in the future based on its existing foundation.
Right now, the market seems to be playing a little trick, preparing for a "double bottom test," just a slight drop again. But do you know? This is actually a golden pit after a crash, a great opportunity for us to buy at a low price! Just like rushing to the supermarket for discounted items, if we don't enter the market now, when will we?
However, we shouldn't rush all in at once; we need to leave some room. I suggest keeping positions between 60% to 70%, leaving some funds on hand just in case. This way, even if the market pulls back again, we still have bullets to add positions, and when it rebounds, we can earn even more!
So, everyone, be patient and don't rush. The good show of altcoins is yet to come. Once the adjustment is over, it will be our time for continuous rise in altcoins, and that will be exhilarating! I've already got my eye on a dark horse, just waiting for it to soar.
Moreover, I also see a wave of potential coins set to explode before the end of the year. I will slowly explain how to operate.