🚨 On-chain data shows that BTC exchange reserves have dropped below 1.8 million coins, hitting a new low in recent months.
In the past 24 hours, there has been a net outflow of 23,000 BTC, totaling 57,000 BTC over the last week. Large transfers have surged, with over 60% of funds moving to cold wallets and DeFi, leading to a continued tightening of market supply.
It's not just BTC; the exchange reserves for major assets like ETH, SOL, PEPE, DOGE, and WIF are also declining, indicating that funds are flowing out of centralized platforms.
With fewer tokens on exchanges, this means lower selling pressure. The current market is showing clear "short squeeze" signals, and BTC has strong support around the $78,000 mark.
If it dips to the $77,000-$77,500 range, it remains a prime spot to buy the dip.
$BTC $ETH $SOL $PEPE $DOGE $WIF
In the past 24 hours, there has been a net outflow of 23,000 BTC, totaling 57,000 BTC over the last week. Large transfers have surged, with over 60% of funds moving to cold wallets and DeFi, leading to a continued tightening of market supply.
It's not just BTC; the exchange reserves for major assets like ETH, SOL, PEPE, DOGE, and WIF are also declining, indicating that funds are flowing out of centralized platforms.
With fewer tokens on exchanges, this means lower selling pressure. The current market is showing clear "short squeeze" signals, and BTC has strong support around the $78,000 mark.
If it dips to the $77,000-$77,500 range, it remains a prime spot to buy the dip.
$BTC $ETH $SOL $PEPE $DOGE $WIF