Degen

Bitcoin Nears $100K Milestone Amidst Supply Squeeze

Bitcoin's [BTC] rally to a six-figure valuation is imminent, fueled by significant exchange withdrawals and a supply squeeze.

Key Statistics:

1. _Bitcoin withdrawals_: 65K BTC ($6.37 billion) in 96 hours
2. _Exchange reserves_: Decreasing
3. _Social media mentions_: Record high for $100K Bitcoin
4. _Number of holders_: Surging

Analysis:

Bitcoin's price action driven by:

1. Reduced selling pressure
2. Increased investor confidence
3. Supply squeeze on exchanges

Projection:

1. Next milestone: $100K psychological barrier
2. Potential outcome: Surge to new highs or profit-taking correction

Risks and Challenges:

1. Fear of corrections
2. Profit-taking at key phases
3. Market volatility

Predictions:

1. Short-term: Break above $100K or correction
2. Long-term: Continued bullish momentum
3. Market sentiment: Cautious optimism