Bitcoin’s exchange reserves since 2013 to 2025 have historically declined before significant bull runs, including 2013, 2017, and 2021.
Prices surged from $10,000 to $69,000 by 2021 as reserves fell below 2.5M BTC. For the first time, reserves continued decreasing during the 2024 bull run, dropping to 2.35M BTC as prices hit $92.3K.
This indicated a potential supply shock as sell-side liquidity tightens. Previous cycles highlighted similar reserve drops triggering sharp price increases in Bitcoin.
Exchange reserves | Source: CryptoQuant
Should reserves decline further, Bitcoin could experience unprecedented price movements. These trends show reserves’ pivotal role in fueling Bitcoin’s market behavior. A massive supply shock might develop.
BTC Liquidation Level Heatmap
Additionally, Bitcoin’s liquidation levels with $99K as the mid-range and acceptance above this level could lead prices toward $102.4K. The $102.4K range quarter showed significant liquidity, indicat
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