Bitcoin exchange flow decreases to 10-year lows as entrepreneurs $ 165k BTC price

Key Takeaways:

• Bitcoin reached 10% to $ 108,200 from $ 98,400 local lows, re -supporting basic support.

• The Bulcoin’s Bull Pennant in the sunny chart targets 54% earned at $ 165,000.

• The exchange flows are in a 10-year low, the sign of investors continues to hold long-term.

Bitcoin (Btc) The price was registered at a weekly high $ 108,200 on June 25 after a 10% increase from the local low to $ 98,400 three days before. The BTC has now reclaimed a major support level as prices continue to be combined below its $ 112,000 all-time high range.

Can Bitcoin price rise more than 50% over the next few days?

Bitcoin “Bullish Pennant” indicates $ 165,000

Bitcoin rallies 52% between April 8 and May 22 to Reach a full time $ 112,000. Since then, the BTC price has been Oscillated between all times high and $ 100,000. The latest recovery from the six -week lows below $ 100,000 suggests that Bulls are aggressively defending this level.

“Bitcoin took the main support area,” Says Crypto’s popular analyst Jelle in a June 25 post in X, added that BTC has returned inside a pennant in the sun -day chart.

A bull pennant is a continuation pattern that occurs after a significant increase, followed by a time of integration -including the higher price end.

“Break above $ 110k, and it’s flying higher.”

A Positive breakout From the pennant can lead to the next leg for Bitcoin, which is measured at $ 165,200 or 54% from the current price level.

However, this is important Remember That the success rate of a bullish pennant is around 54%, making one of the least reliable patterns.

Related: Bitcoin price analysis now is seen up to $ 111k Liquidity Grab to the next

Merlijn the businessman, a Bitcoin’s analyst, shared a similar bullish outlook, Guess A BTC price of $ 140,000 based on an inverted head-and-shoulders pattern.

“Break the $ 112k and nothing stops $ BTC from flying to $ 140k+.”

Other hopes are more ambitious, with some analysts mentioning The debt increases to us and tax deduction by President Donald Trump, putting BTC leads between $ 200,000 and $ 250,000.

Bitcoin exchange flows hit 10-year lows

Bitcoin can be a trade closer to all times high, with a supply of revenue of more than 96%, but the demand for BTC in exchange users is drained.

Data from the Onchain Analytics platform shows the daily average volume of flows in exchanges that hit 10-year lows on June 25.

“The average flow volume (flowing + flowing) in centralized exchanges has dropped to 40,000 BTC per day -this is the lowest figure in the last 10 years,” mentioned Bitcoin researcher Axel Adler Jr., adding:

“A significant part of the BTC has left the platforms, which is a sign of integration and potential liquidity deficiency.”

Fewer flowers may mean investors are moving on their BTC Self-custody walletsreflects trust in bitcoin as a long -term value store.

As cointelegraph reportedThe general BTC balances are at the lowest of seven years. Bitcoin’s balance in exchanges is 2.92 million BTC until June 25, the levels last seen in June 2019, as per Glassnode data.

Reducing supply to exchanges means less bitcoin is readily available for trading, which potentially leads to a Lack of liquidity and higher prices in the long run.

This article does not contain investment advice or recommendations. Every transfer of investment and trading involves risk, and readers should conduct their own research when deciding.