Bitcoin Exchange Flows Reach 10-year Lows, as Traders Target $165K Bitcoin Price

Takeaways from the conference:

• Bitcoin’s price is now up by 10%, to $108,200. It was $98,400 at the local low. This marks a return of key support.

• Bitcoin’s bullpennant chart on the daily chart targets gains of up to 54%, or $165,000.

• The exchange flows have reached a low of 10 years, indicating that investors are still holding long-term.

BitcoinBTC( ) reached a high of $108,200 a week on the 25th June, after an increase by 10% from its low local price at $98,400 just three days earlier. BTC is now back at a critical support level after prices continue to stabilize below their all-time highest range of $112,000

Bitcoin: Will the price of bitcoin rise more than 50% over the next couple days?

Bitcoin “bullish pennant” Hints at $165,000

Bitcoin rose by 52% in the period between April 8 and June 22. reach an all-time high of $112,000. BTC has been steadily increasing in price since then. oscillated between the all-time high and $100,000. This latest rally from six-weeks lows under $100,000 indicates that bulls will aggressively defend this level.

“Bitcoin reclaimed the key support area,” said Popular crypto analyst Jelle, in a post published on X on June 25, added that BTC was now inside a pennant chart on the daily.

Bull pennants are continuation patterns that occur after an important rise. They then follow a period of consolidation at the upper price range.

“Break above $110K, and this flies a lot higher.”

The following are some of the ways to get in touch with each other positive breakout Bitcoin could rise to $165,200 (or 54% more) than it is currently priced.

It is vital to keep in mind that note It is estimated that a bullish pennyannant has a success rate around 54%.

Related: Bitcoin price analysis now sees up to $111K liquidity grab next

Merlijn The Trader, a Bitcoin Analyst, also shared the same bullish outlook. predicting A BTC price of $140.000 based on a head-and shoulders pattern inverted.

“Break $112K and there’s nothing stopping $BTC from flying to $140K+.”

Analysts have cited even higher projections. soaring US debt Tax cuts by President Donald Trump BTC’s top between $200,000 and $250,000.  

Bitcoin exchange flows hit 10-year lows

Bitcoin is trading at a level that’s much closer to the all-time record high. The profit margins are above 96% but exchange user demand for BTC has dried up.

The daily average flow of exchanges has reached a 10-year low on the 25th June, according to data from CryptoQuant’s blockchain analytics platform.

“The average volume of flows (Inflow + Outflow) on centralized exchanges has decreased to 40,000 BTC per day – this is the lowest figure in the past 10 years,” noted Bitcoin researcher Axel Adler Jr.

“A significant portion of BTC has left the platforms, which is a sign of consolidation and potential liquidity shortage.”

If there are fewer inflows, it could indicate that investors have moved their BTC from Bitcoin into self-custody walletsThis reflects confidence in Bitcoin’s long-term value as an investment.

Cointelegraph reportedAs of June 25, the Bitcoin balance on exchanges is at its lowest level in seven years. As per Glassnode’s data, Bitcoin on exchanges reached 2.92 million BTC at the end of June. The last time this happened was in June 2019. 

Reduced supply means that less Bitcoin can be traded on the exchanges, which could lead to an increase in prices. liquidity shortage Long-term, prices will rise.

This article contains no investment recommendations or advice. Each investment or trading decision involves some risk. Readers should do their own research before making any decisions.