Degen

Bitcoin (BTC) holdings on the Binance exchange have fallen to their lowest level in 2024, according to data from CryptoQuant. The decline began in August and follows a pattern seen in January, after which Bitcoin’s price surged 90%.

At the same time, OTC exchanges have also reported significant decreases in their holdings, with 40,000 BTC removed from their balances since November 20.

Analysts believe that the decline in holdings reflects growing investor confidence in Bitcoin’s long-term potential and could pave the way for a strong bullish trend. Bitcoin is expected to reach a range of $110,000 to $130,000 by the end of January.

Bitcoin holdings on Binance hit their lowest in 2024, mirroring January’s pattern before a 90% surge. OTC exchanges also saw 40,000 BTC withdrawn since November. Analysts see this as investor confidence, predicting Bitcoin may hit $110K–$130K by January's end.