Bitcoin reserves on exchanges are falling to historic lows, raising hopes for a rise
Bitcoin reserves on exchanges have reached a historic low: centralized platforms now hold only 1.2 million BTC, which is significantly lower compared to 1.8 million BTC a year ago. According to Santiment, over the past year, 403,200 BTC have been withdrawn from exchanges, representing a reduction in circulating supply of 2.09%. This trend is driven by long-term holders and institutional investors moving their coins into custodial storage, which reduces selling pressure. Analysts are optimistic about a potential market rally if the accumulation trend continues. Michael van de Poppe suggests that Bitcoin could reach $100,000 by Christmas if buyers maintain current levels. As Bitcoin consolidates, altcoins may also gain momentum during a broader market rally.
