BTC exchange reserves hit a nearly 7-year low! Analysts: The pullback has entered the final stage, and the peak value of BTC is predicted to be in the middle of this year.

BTC launched a strong rebound after falling below $90,000 last night, and Coinglass data also shows that BTC's balance in exchangeWallet is continuing to decline and hitting a record low in nearly 7 years. (Synopsis: Analyst: BTC will welcome the outbreak of Bull Market after the "January selling period", and BTC will rise every Spring Festival? (Background addition: Two more states in the United States launch draft BTC reserves, listed distillery Heritage plans to accept BTC payments) BTC fought a fierce long-air defense last night, and at one point Long Wick Candle $89,110 forced many bearish tradersGet Liquidated to leave the market. But then there was a clear Rebound, which was now quoted at $94,786, which has made up for yesterday's losses and once again showed strong resilience. At present, judging from the intensive trading area, if it can stand above $95,000, it is expected to become an important price level to pave the way for $100,000; But on the other hand, if BTC falls again and fails to hold $89,000, it may be close to testing the $85,000 level. BTCexchange reserves hit a new low in nearly 7 years However, as of January 13, BTC's balance in exchangeWallet has fallen to 2.19 million, the lowest since June 2018, according to Coinglass data. And this data is generally considered that BTC investors are more inclined to move BTC to Wallet for the long term, showing a positive bullish signal. BTCexchange balance. Source: Coinglass In response, André Dragosch, head of research at Bitwise, said that the reason for the continuous decline in exchange BTC balance reserves may come from the continued buying of institutional investors: The global cryptocurrency Hedging fund is taking advantage of the decline in BTC to continue to buy. Analyst: BTC will peak in the middle of this year For the future trend of BTC, Cryptocurrency analyst and trader dave the wave posted on the social platform X yesterday (13) that according to the technical indicator, BTC has room to rise in the future, and it is expected to reach the peak of the current round of the Bull Market cycle in the middle of this year: BTC's Bull The Market peak recommendation is: when the one-year moving average reaches the midpoint of the LGC channel, it signals that the price has peaked. The suggestion of a mid year #btc peak here: price has previously peaked when the one year moving average hits the midway mark of the LGC channel. pic.twitter.com/Sy8alclnIb — dave the wave (@davthewave) January 13, 2025 In addition, cryptocurrency analyst Rekt Capital recently said that the current pullback of BTC may have reached the final stage: The first correction of BTC price discovery is underway, which usually lasts 2 to 4 weeks, The current pullback has been going on for 4 weeks. Therefore, from a historical point of view, this adjustment should have reached the final stage. #BTC The first Bitcoin Price Discovery Correction is in progress They generally tend to last 2-4 weeks This current retrace has been going on for 4 weeks now Length-wise, history therefore suggests This correction should be in its final stages$BTC #Crypto #Bitcoin — Rekt Capital (@rektcapital) January 11, 2025 At the same time, Bloomberg ETF analyst Eric Balchunas also posted that the current pullback of BTC is only temporary, BTC The biggest risk is the decline of U.S. stocks: I've been saying that the biggest risk to BTC is the decline of U.S. stocks, which is a price to pay for being a "hot sauce" asset, with both benefits and disadvantages. Still, Trump may go to great lengths to ensure that U.S. stocks rise, so personally, I'm not worried about a pullback in the short term. Related stories Next is Meta? Shareholders propose to invest 2% of their assets in BTC, Zuckerberg went to Florida for the second time to see Trump 8,000BTC dump! Ying man's request for excavation was "rejected by the court": will sue the Supreme Court, the government should compensate me 600 million magnesium Embrace BTC+ strong anti-gang work! El Salvador welcomes 3.9 million tourists in 2024, a record increase of 22% per year (BTCexchange reserves hit a new low in nearly 7 years! Analyst: Pullback has entered the final stage, BTC peak prediction in the middle of this year" This article was first published in BlockTempo "Dynamic Trend - The Most Influential Block Chain News Media".