Bitcoin price ATH, as merchants prepare for the “shock of offer”

Bitcoin price can be about to explode to a record level as merchants prepare to get the “shock of show” in the coming months.

Bitcoin (BTCRangebound remained this week, but at 104,000 dollars, you need to get about 4 % to match its highest level at $ 109,300.

One of the main budget stimuli of Bitcoin is the sharp decrease in the display available via central stock exchanges and offices that do not need a prescription. According to Cryptoquant, liquidity has decreased by the sale side of OTC offices to 120,000 BTC, its lowest level in years. For comparison, the stock reached approximately 500,000 BTC in late 2021.

Likewise, data shows that Bitcoin’s display on central stock exchanges like Binance and Coinbase decreased to 2.17 million BTC, down from 2.72 million in January 2024. This represents the slightest exchange supplies in more than six years.

This shrinking offer is seen as an upper indicator, especially amid the increasing demand. For example, Bitcoin etfs spot He added more than $ 40 billion of assets since January last year.

Companies also continue to buy Bitcoin, with a road strategy. The strategy now has 568,500 coins worth $ 59 billion. It holds about 2.7 % of all bitcoin that will be created at all. Other companies such as Next Technology, Semler Scientific, Cango and Metaplanet continued.

More Bitcoin companies may add to the treasury bonds after monitoring the success of the strategy. The market ceiling jumped to more than $ 115 billion, up from one billion dollars when she started buying in 2020.

In addition to institutions, the next stage of bitcoin accumulation is likely to come from governments. Donald Trump suggested creating the strategic bitcoin reserves, a step that may lead other countries to do the same. Ukraine The Czech Republic began exploring these assets.

Technical analysis of bitcoin prices

The daily chart, Bitcoin, is about $ 104,000 in recent days. Technically, this basic procedure is part of the upscale flag pattern, a continuation preparation that is usually displayed in strong UPTRENDs. This monotheism occurs slightly less than the resistance at $ 108,420, which represents the upper limits of a larger cup and the formation of the handle.

Bitcoin gathering is also supported by the averages of lower movement for 50 days and 100 days, both of which are heading up. This alignment indicates an ongoing bullish momentum, with its highest level ever 109,300 dollars on the horizon. The rest at this level can pave the way for more gains towards the psychological barrier at $ 110,000.