Bitcoin Exchange & OTC Reserves Hit Lows: Is a Supply-Led Breakout Next?
2025-06-30 21:45:00
Main Idea
Bitcoin exchange reserves and miners' OTC balances have hit multi-year lows, signaling a potential supply shock and bullish breakout for BTC.
Key Points
1. Bitcoin exchange reserves have dropped to 2.45 BTC, the lowest level since March, indicating movement to long-term custody or cold storage.
2. Miner OTC holdings stand at 156.6k BTC, a multi-year low, further reducing available supply.
3. Despite a recent intraday loss of 0.72%, Bitcoin's price shows a rejection tail, hinting at a potential breakout above the $112,000 all-time high resistance.
4. If the breakout occurs, BTC could initially target $119,000, with further potential to reach $137,000.
5. The current supply dynamics align with historical patterns preceding major bullish cycles.
Description
Since last week, the Bitcoin price has been grappling with the $108,000 barrier, which has also limited the…
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