The post Market Momentum Builds as Bitcoin Reserves Decline on Binance appeared on BitcoinEthereumNews.com.
Analysts now predict that Bitcoin could climb to $187,500 in the coming months. On the other hand, Ethereum shows signs of outperforming Bitcoin in 2025 due to a potential breakout in the ETH/BTC ratio and increasing inflows into ETH-based ETFs. Adding to Bitcoin’s momentum, Israel is launching six Bitcoin-tracking funds next week, and Russia is embracing Bitcoin for global trade as part of its efforts to reduce reliance on the U.S. dollar. Binance Reserves Signal Investor Confidence in Bitcoin Bitcoin (BTC) reserves on Binance, the largest crypto exchange by trading volume, have dropped to levels not seen since January of 2024, right before a 90% surge in Bitcoin’s price by March. Bitcoin currently trades close to $98,160, and some analysts suggest that a similar trajectory could see its price reaching $187,500 in the coming months. The decline in reserves dipped below 570,000 BTC according to CryptoQuant contributor Darkfost, and it is considered to be a bullish signal because investors typically move Bitcoin into cold storage during periods of long-term confidence. Binance Bitcoin exchange reserve (Source: CryptoQuant) This trend is very similar to early 2024 when Binance’s reserves also plummeted before Bitcoin’s price surged to a then all-time high of $73,679 on March 13. According to Darkfost, withdrawals from exchanges often signal positive momentum building in the market, and current conditions align with this historical pattern. Despite this, Bitcoin’s dominance stands at 58.40%, just shy of the critical 60% level, which analysts like Into The Cryptoverse founder Benjamin Cowen believe could trigger a rotation toward other crypto assets. Cowen predicted Bitcoin dominance will reach 60% by December, a milestone it last achieved on Oct. 30. Bitcoin faced some challenges holding above the psychological $100,000 level since first breaking it on Dec. 5. The price stayed below this mark since Dec. 19,…