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    IOT in E-Commerce Market Is Going to Boom | Major Giants Amazon,Alibaba,eBay

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    The #1 CopyTrading Exchange-Bitget Turns 5, $100 Bonus for Newcomers

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    IOT in E-Commerce Market Is Going to Boom | Major Giants Amazon,Alibaba,eBay

    IOT in E-Commerce Market Is Going to Boom | Major Giants Amazon,Alibaba,eBay

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    The most potentially profitable investment method in 2025 is through PairMiner crypto cloud mining, earning passive income daily.

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    PENGU token loses 20% in August amid Pudgy Party game launch

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    floor down up to 18% in the last week (week ended August 26, 2023), volumes still robust

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    What’s Behind the Double-Digit Declines?

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  • Blockchain
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  • Guides
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    What Is Impermanent Loss? How It Works, and How to Avoid It

    What Is an Algorithmic Stablecoin? How It Works and Why It Matters

    What Is an Algorithmic Stablecoin? How It Works and Why It Matters

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    What is Cloud Mining? A Beginner’s Guide

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    What Are Bitcoin Runes and RunesDEX? – Cryptocurrency News & Trading Tips – Crypto Blog by Changelly

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    6 Under-$1 Utility Tokens with Real-World Use to Watch in the 2025 Bull Run

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    What is Crypto FOMO? How to Avoid Emotional Investing Mistakes

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    What Is Crypto Arbitrage and How to Use It in Trading?

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  • Analysis
    Bitcoin Sees Historic Rise in Shark and Whale BTC Wallets, Records New High: Santiment

    Bitcoin Sees Historic Rise in Shark and Whale BTC Wallets, Records New High: Santiment

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    Solana, XRP and One Ethereum Rival Leading Institutional Inflows in 2023: CoinShares Data

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    Estate of Bankrupt Crypto Exchange FTX Abruptly Stakes Over $144 Million in Solana (SOL)

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    Benjamin Cowen Warns Majority of Altcoins Will Never See New All-Time Highs Again Amid ‘Serious Declines’

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    Top Trader Sees Bitcoin Skyrocketing 570% in Next Bull Market Amid Soaring US Debt Levels

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    The #1 CopyTrading Exchange-Bitget Turns 5, $100 Bonus for Newcomers

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Home Bitcoin

Bitcoin exchange reserves at 5-year low: What this means for BTC

October 17, 2024
in Bitcoin
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Bitcoin exchange reserves at 5-year low: What this means for BTC
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  • Bitcoin exchange reserves dropped to a 5-year low, signaling potential bullish rally.
  • The majority of Bitcoin holders were enjoying profits, contributing to the market’s positive sentiment.

Bitcoin [BTC] remained in the headlines as it continued to show bullish momentum throughout the week.

The crypto market has witnessed a significant shift as BTC broke out of a bullish flag pattern recently, sparking hopes for further price growth. 

From plummeting exchange reserves to surging profits for holders, here’s why the market is buzzing with optimism.

Bitcoin exchange reserves plummet

BTC reserves on exchanges have fallen to their lowest levels since 2017, according to CryptoQuant data. Historically, plummeting exchange reserves pointed to an increasing buying pressure.

For Bitcoin, given its current price rally, the sentiment may suggest a further price rally following the inflow influx.

Low reserves mean less BTC is available for immediate liquidation, which can fuel price surges in the coming days.

Source: CryptoQuant

Net unrealized profit spikes

Within the last 24 hours, Bitcoin’s net unrealized profits have gone through the roof, indicating that a large portion of BTC holders are sitting on unrealized gains.

This reflected surging confidence in the market, with more holders holding onto their profits—a snowballing effect of reduced selling pressures and growing bullish sentiments for Bitcoin.

Source: CryptoQuant

94% of Bitcoin holders are winning

AMBCrypto’s analysis of IntoTheBlock revealed that a whopping 94% of Bitcoin holders were in profit at press time. This created a bullish undertone in the market.

When holders are already in profit, they resist selling during short-term fluctuations, further tightening Bitcoin’s supply.

See also  Bitcoin Hashrate Smashes Records With 852 EH/s Frenzy—Zettahash Era Inches Closer

With a spike in the unrealized profit surge backed by the bigger portion of holders in profit at the current price, the Bitcoin bullish rally is more likely to hold on the long term.

Source: IntoTheBlock


Read Bitcoin’s [BTC] Price Prediction 2024–2025


To top it all, the king coin recently broke out of a bullish flag pattern. Historically, this technical signal indicates further price gains. 

The fact that the exchange reserve is still falling and that unrealized profits remain strong, the breakout only strengthens the case for an extended BTC rally.

Next: BONK surges 10% in 24 hours – Is this the start of something big?

READ ALSO

Bitcoin nears $91K as buying pressure soars, but challenges emerge

Spot Bitcoin ETF Options – How U.S exposure is set to soar after CFTC’s notice

  • Bitcoin exchange reserves dropped to a 5-year low, signaling potential bullish rally.
  • The majority of Bitcoin holders were enjoying profits, contributing to the market’s positive sentiment.

Bitcoin [BTC] remained in the headlines as it continued to show bullish momentum throughout the week.

The crypto market has witnessed a significant shift as BTC broke out of a bullish flag pattern recently, sparking hopes for further price growth. 

From plummeting exchange reserves to surging profits for holders, here’s why the market is buzzing with optimism.

Bitcoin exchange reserves plummet

BTC reserves on exchanges have fallen to their lowest levels since 2017, according to CryptoQuant data. Historically, plummeting exchange reserves pointed to an increasing buying pressure.

For Bitcoin, given its current price rally, the sentiment may suggest a further price rally following the inflow influx.

See also  Is Bitcoin preparing for a big move toward a new ATH?

Low reserves mean less BTC is available for immediate liquidation, which can fuel price surges in the coming days.

Source: CryptoQuant

Net unrealized profit spikes

Within the last 24 hours, Bitcoin’s net unrealized profits have gone through the roof, indicating that a large portion of BTC holders are sitting on unrealized gains.

This reflected surging confidence in the market, with more holders holding onto their profits—a snowballing effect of reduced selling pressures and growing bullish sentiments for Bitcoin.

Source: CryptoQuant

94% of Bitcoin holders are winning

AMBCrypto’s analysis of IntoTheBlock revealed that a whopping 94% of Bitcoin holders were in profit at press time. This created a bullish undertone in the market.

When holders are already in profit, they resist selling during short-term fluctuations, further tightening Bitcoin’s supply.

With a spike in the unrealized profit surge backed by the bigger portion of holders in profit at the current price, the Bitcoin bullish rally is more likely to hold on the long term.

Source: IntoTheBlock


Read Bitcoin’s [BTC] Price Prediction 2024–2025


To top it all, the king coin recently broke out of a bullish flag pattern. Historically, this technical signal indicates further price gains. 

The fact that the exchange reserve is still falling and that unrealized profits remain strong, the breakout only strengthens the case for an extended BTC rally.

Next: BONK surges 10% in 24 hours – Is this the start of something big?
Tags: 5YearBitcoinBTCExchangeMeansreserves

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