Bitcoin Nears $108K Amid Declining Exchange Reserves and Increasing Long-Term Accumulation Trends

Key Points

1. Bitcoin's exchange reserves have dropped to 2.4 million BTC, with over 800,000 BTC removed since mid-2023, reducing available supply and driving price sensitivity.

2. Bitcoin's market capitalization is around $2.145 trillion, with daily trading volume at approximately $27.76 billion, indicating strong liquidity and reduced volatility.

3. The circulating supply stands at 19,886,459 BTC, with just over 1.1 million BTC remaining to be mined, further tightening supply.

4. Long-term accumulation by holders is reshaping supply-demand dynamics, amplifying price sensitivity to buying pressure and supporting sustained growth.

5. Bitcoin's price fluctuated between $105,402 and $107,968 in the last 24 hours, with potential to reach $108,000 as a pivotal point for the current trend.