Bitcoin Whales Buy Big as Exchange Reserves Hit 3-Year Low
The post Bitcoin Whales Buy Big as Exchange Reserves Hit 3-Year Low appeared on BitcoinEthereumNews.com.
Bitcoin (BTC) is facing a major supply crunch, with exchange reserves dropping to a 3-year low of below 2.5 million BTC, according to CryptoQuant. This decline signals a potential supply shock, as large investors continue to accumulate BTC at an aggressive pace. At the same time, whales have been buying heavily over the past two months, a trend we previously reported. 🐋🚨 Whales are buying #Bitcoin while exchange reserves hit 3-year low at 2.5M $BTC. Give a ❤️ if you’re buying or holding your #crypto! pic.twitter.com/OI54cGupj0 — CoinCodex (@CoinCodex) February 11, 2025 With fewer coins available on exchanges and whale accumulation increasing, the conditions are aligning for a major Bitcoin price surge. Despite huge selling pressure, Bitcoin is still holding strong above $95,000 psychological barrier, signaling resilient demand and growing institutional confidence in the asset. Strategy (MicroStrategy) Resumes Bitcoin Acquisitions One of the largest corporate Bitcoin holders, Strategy Inc. (formerly MicroStrategy), has resumed its Bitcoin acquisitions, recently adding 7,633 BTC to its balance sheet for $742.4 million. Strategy’s Current BTC Holdings: 478,740 BTC (Total) Acquired at an average price of $65,033 per BTC With institutional buyers like Strategy continuing to accumulate BTC, it further reduces available supply—a key factor that could drive Bitcoin’s price significantly higher. Analysts Remain Bullish on Bitcoin’s Price Action Market sentiment remains overwhelmingly bullish, with analysts pointing to technical indicators and institutional buying as signs of an imminent breakout. Michael Saylor remains extremely bullish, predicting Bitcoin could reach $180,000 in this cycle. Technical analysts highlight a “falling wedge” pattern—a historically bullish indicator. #Bitcoin I think the long wait will soon be over.$BTC is once again in a falling wedge, which is a very bullish pattern. Would you be ready for this?👀🔥 pic.twitter.com/7rEtyQgmM0 — 𝕄𝕠𝕦𝕤𝕥𝕒𝕔ⓗ𝕖 🧲 (@el_crypto_prof) February 11, 2025 With these indicators aligning, Bitcoin could be on…
Filed under: News - @ February 11, 2025 5:25 pm