Bitcoin Exchange Reserves Plummet Amidst Miner Sell-Offs and Price Surge
Bitcoin's exchange reserves have hit a five-year low, indicating a strong accumulation trend as more BTC is moved to private wallets, reducing selling pressure. This, combined with rising Open Interest and consistent net outflows, suggests a bullish market setup. The NVT Golden Cross also signals healthy network activity, reinforcing the potential for Bitcoin's price to continue its upward trajectory, possibly reaching $100,000, despite potential short-term volatility due to reduced liquidity on exchanges.