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Bitcoin Price Prediction as Exchange Balances Hit Five-Year Low – Bullish Outlook for BTC?

Arslan Butt
Last updated: | 3 min read
Bitcoin Price Prediction
Bitcoin Price Prediction

Bitcoin’s exchange balances have dropped to their lowest level since March 2018, falling below 2.3 million BTC. This significant decline, driven by major outflows from Binance and Coinbase, suggests a shift towards long-term holding strategies.

As large holders, or “whales,” transfer their assets to private wallets, the trend indicates anticipation of future price increases.

This situation has prompted a bullish outlook for Bitcoin as investors speculate on the potential for significant gains in the near future.

Bitcoin Exchange Balances Hit Five-Year Low, Major Outflows from Binance and Coinbase


Bitcoin balances on exchanges have dropped to their lowest level since March 2018, falling below 2.3 million BTC. This decline is driven by significant outflows from major exchanges like Binance and Coinbase, suggesting a shift towards long-term holding strategies.

Exchange Balance: (Source: Glassnode)
Exchange Balance – Source: Glassnode

Over the past year, Binance, which holds the largest Bitcoin reserves, has experienced substantial withdrawals. Similarly, Coinbase saw one of the largest outflows in 2024, with nearly 16,000 BTC moved in a single day.

This trend indicates that large holders, or “whales,” are transferring their assets to private wallets in anticipation of future price increases.

Key Points:

  • Exchange balances below 2.3 million BTC
  • Major outflows from Binance and Coinbase
  • Indication of long-term holding strategies

Bitcoin (BTC/USD) Technical Outlook: June 2, 2024

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Next Price Increase In Days: 02
USDT Raised: $3,853,633.72 / $4,122,480

Crypto analysts, including Michael Wrubel, with over 312,000 YouTube followers, rate WAI as a top 2024 pick. The presale price is $0.000713, with a market cap under $50 million. If WAI achieves market leadership, early investors could potentially see significant returns.

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Disclaimer: The text above is an advertorial article that is not part of Cryptonews.com editorial content.