CandleFocus Bitcoin Exchange Reserves Hit Record Low Could Hit $120K Soon!
2024-12-19
Author: Content Editor
The article highlights that Bitcoin exchange reserves have dropped to a record low of 2.4 million BTC, indicating that investors are increasingly holding onto their Bitcoin for the long term. This decline in reserves reflects a shift in how institutional investors approach Bitcoin, with many adopting a "hodl" strategy. However, there are concerns about the demand for Bitcoin as the Coinbase Premium Index, which tracks demand in North America, has dropped despite the recent price surge. Despite these concerns, experts predict that Bitcoin could reach $120,000 due to tightening supply and strong demand.
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