Bitcoin has reached its lowest exchange reserve in seven years, with only 20.4 million Bitcoin available for instant trading. This could indicate a bullish market and potential supply shortage. Bitcoin is trading above $100,000 for the first time since its breakout and has broken important resistance levels. Decreased availability has historically led to price increases, and on-chain data shows growing investor interest and confidence in Bitcoin's future. While there are risks, such as a wider sell-off if Bitcoin falls below $97,000, the overall outlook is positive with a potential shift toward $110,000 or higher. Essential to reducing downside risks is monitoring important support levels.



Other News from Today