Bitcoin reserves on Binance have fallen under 570,000 BTC, the lowest level since January. Will history repeat itself?

Bitcoin reserves on Binance, the world’s largest crypto exchange by trading volume, have dropped to levels not seen since January 2024, just two months before Bitcoin’s price skyrocketed 90% in March.

If Bitcoin follows the same pattern with its current price of $98,680, it would mean a $187,500 price in a matter of months.

Signals investors are confident

Binance’s Bitcoin reserves recently dipped below 570,000 BTC — the lowest level since January, according to CryptoQuant contributor Darkfost in a Dec. 25 analyst note.

When exchange reserves decline, this typically signals that investors are moving Bitcoin into cold storage and are bullish about the long-term price prospects of Bitcoin.

Binance’s reserves dropped to a similar level in January, but two months later, on March 13, Bitcoin surged to $73,679, marking a then all-time high.

“When periods of withdrawals occur, it is often a sign of positive momentum building in the market,” Darkfost said.

Get to know Godleak

Godleak crypto signal is a  service which provide profitable crypto and forex signals. Godleak tried to provide you signals of best crypto channels in the world.

It means that you don’t need to buy individual crypto signal vip channels that have expensive prices. We bought all for you and provide you the signals with bot on telegram without even a second of delay.

Godleak crypto leak service have multiple advantages in comparision with other services:

•  Providing signal of +160 best crypto vip channels in the world
• Using high tech bot to forward signals
• Without even a second of delay
• Joining in +160 separated channels on telegram
• 1 month, 3 months , 6 months and yearly plans
• Also we have trial to test our services before you pay for anything

For joining Godleak and get more information about us only need to follow godleak bot on telegram and can have access to our free vip channels. click on link bellow and press start button to see all features

Join for Free

☟☟☟☟☟

https://t.me/Godleakbot

Also you can check the list of available vip signal channels in the bot. by pressing Channels button.

Bitcoin dominance hovering below 60%

Bitcoin dominance currently stands at 58.40%, just below the critical 60% level, according to TradingView.

However, some analysts believe the 60% level could signal a wider rotation toward other crypto assets.

On Aug. 18, Into The Cryptoverse founder Benjamin Cowen said he believed Bitcoin “will make that final move” toward 60% no later than December, which it ended up tapping just two months later on Oct. 30.

Meanwhile, Bitcoin has struggled to hold above the psychological $100,000 since first breaking that level on Dec. 5.

Bitcoin’s price has been trading under the $100,000 mark since Dec. 19, after reaching a new high of $108,300 recorded on Dec. 17.

According to Ryan Lee, chief analyst at Bitget Research, Bitcoin’s price may exceed $105,000 once liquidity returns after the Christmas holidays.

Bitcoin’s current downtrend is a typical symptom of the holiday illiquidity, Lee recently told :

“Post-Christmas, market activity typically picks up again, with funds expected to actively position for sectors that might benefit from Trump’s upcoming inauguration… The expected trading range for BTC this week is $94,000 – $105,000.”