It's time to take stock in the crypto sphere, and Binance, the number one exchange, is in the spotlight. Analysts are eyeing a notable drop in Bitcoin (BTC) reserves on the platform, plunging to their lowest level since January. This recurring phenomenon, which is often accompanied by a return to self-custody, could be the prelude to an upcoming historic bull run for the flagship crypto. Dive into the signals of this boiling market.
Binance's Bitcoin reserves in free fall
Bitcoin reserves on Binance have recently fallen below the 570,000 BTC marka level not seen since January so it broke all records in November. An observation that has not escaped analysts, like Darkfost from CryptoQuantwhich recalls:
“ When drawdowns intensify, it is often a sign of positive momentum in the market. »
In fact, this scenario had already occurred last January, just before a 90% bitcoin rally two months later.
The numbers speak for themselves:
- Current reserves: less than 570,000 BTC, compared to 586,000 in November;
- January 2024: a similar level before an explosion to $73,679;
- December 2024: a record high at $108,300, before a decline below $100,000.
These movements reflect increased investor confidence in the long-term potential of bitcoinwhich leaves the platforms to join cold wallets. So, a new bullish episode in sight? If history repeats itself, BTC could well reach unprecedented heights in the months to come.
Crypto traders: between caution and anticipation
While investors move their assets, crypto traders remain divided. Bitcoin dominance is close to 58.4%, without succeeding in exceeding the symbolic threshold of 60%. This ceiling seems to announce possible diversification towards other digital assets. But for some experts, this inertia is short-lived.
Ryan Lee, analyst at Bitget Research, anticipates a resumption of activity after the holidayswith BTC hovering between $94,000 and $105,000 this week. He notes that the usual illiquidity of markets during festive periods is only a temporary pitfall.
Others predict that the 60% mark could, ultimately, revive the attractiveness of bitcoin and energize the entire crypto sector.
In short, between traders on the alert and confident investors, BTC continues to ride the roller coaster, while strengthening its position as an essential asset.
Thus, at the beginning of November, Binance and Coinbase saw their Bitcoin reserves plunge, putting the market under pressure. A dynamic that had already occurred at the beginning of 2024, before a resounding rally. It remains to be seen whether history repeats itself for the flagship crypto.
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