Bitcoin Exchange Flows Reach 10-Year Lows, as Traders Target $165k BTC

Takeaways from the conference:

• Bitcoin has risen 10% from the $98,400 lows in local currency to $108,200, and is regaining key support.

• Bitcoin bull pennant’s daily chart is targeting gains of 54% to $165,000.

• Investors continue to invest long term, as exchange flows are down 10 percent from a decade ago.

BitcoinBTCOn June 25, the price of, which had been at a local low of $98,400 for three days before, rose 10% to a new weekly high. 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’s price rose 52% between May 8 and 22. reach an all-time high of $112,000. BTC’s price has increased since that time. oscillated between the all-time high and $100,000. Bulls aggressively defend $100,000 level, as evidenced by the latest rebound from recent lows of below $100,000.

“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 The success rate for a pennant pattern is around 54%. This makes it the least reliable of all patterns.

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

Merlijn the Trader is a Bitcoin expert who shared similar optimism. predicting Based on an inverted Head-and-Shoulders pattern, a BTC of $140,000.

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

Analysts have cited even higher projections. soaring US debt The tax cut of President Donald Trump, BTC’s top between $200,000 and $250,000.  

Bitcoin exchange flows hit 10-year lows

Bitcoin’s price may have risen to new highs with a profit of over 96%. However, demand from exchange users for BTC is dwindling.

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. According to Glassnode, the Bitcoin balance at exchanges was 2.92m BTC on June 25. This is lower than it had been in June 2019. 

The reduction in supply of Bitcoin on exchanges could potentially lead to the aforementioned. 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.