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Bitcoin saw a setback after the holidays, losing almost 4% in value over the past day. This latest dip briefly dragged its price under $95.2k on Thursday. In fact, following multiple corrections since mid-December, Bitcoin has nearly wiped out its monthly gain.reveals that Binance’s Bitcoin reserves have dropped to their lowest levels since the beginning of 2024.
This milestone coincides with Bitcoin reaching an all-time high of around $108,000. The diminishing reserves on Binance indicate that investors are growing increasingly confident in Bitcoin’s long-term potential, choosing to withdraw their holdings rather than keeping them on the exchange for short-term selling.a surge in Bitcoin demand, as over-the-counter desks reported their largest monthly inventory decline of 2024, with a reduction of 26,000 BTC.
This decline in available inventory suggests that demand is increasing, thereby contributing to a building market momentum. The ongoing withdrawal of Bitcoin from OTC desks indicates growing confidence in the asset, which, in turn, could potentially set the stage for the next leg up as the supply becomes more constrained.below $100,000 for almost a week now, experts suggest that it is poised for a major move.
The analyst also sees the potential for Bitcoin to reach $135k–$140k or higher in the coming months. With such developments on the horizon, the analyst believes now is not the time to stay on the sidelines, as the next move could spark the beginning of a significant rally.What Is Sui Network : The Ultimate Guide in 2024One Weekly Email Can Change Your Crypto Life.Disclaimer: Information found on CryptoPotato is those of writers quoted.
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