LONDON (IT BOLTWISE) – Bitcoin reserves on Binance have reached a critical low as investors withdraw massive amounts of BTC from the platform. This development could lead to significant market volatility, especially if Bitcoin price hits $116,000. In this scenario, billions of short positions could be liquidated, further increasing pressure on the market.
Today’s daily deals at Amazon! ˗ˋˏ$ˎˊ˗
Bitcoin reserves on Binance have hit a new low as investors withdrew over 613,000 BTC from the platform. This movement indicates a tightening of supply, making the market more sensitive to price fluctuations. What is particularly notable is that this development is taking place in an environment where the Bitcoin price is trading near the $111,000 mark.
As Bitcoin reserves on Binance decline, the market becomes more vulnerable to price increases, especially if demand continues to increase. On-chain data shows that a critical pressure point is emerging for short traders. Should Bitcoin price break above $116,000, approximately $4.8 billion in short positions could be liquidated, which could lead to further price increases.
Bitcoin’s liquidation map shows that a cluster of short liquidations could act as a potential “fuel zone” for further price rise. These forced buybacks could accelerate the price rally and force bearish traders to close their positions. This could further heat up the market and lead to increased volatility.
Although Bitcoin price is showing signs of recovery, resistance remains strong. The current trading price around $111,600 is testing resistance near the 50-day EMA at around $113,200. The RSI shows neutral momentum while the MACD suggests a possible bullish crossover. Despite increased buying pressure, trading volumes remain moderate, suggesting traders are waiting for confirmation above key resistance before engaging.
*Order an Amazon credit card with no annual fee with a credit limit of 2,000 euros! a‿z
Bestseller No. 1 ᵃ⤻ᶻ “KI Gadgets”
Bestseller No. 2 ᵃ⤻ᶻ “KI Gadgets”
Bestseller No. 3 ᵃ⤻ᶻ “KI Gadgets”
Bestseller No. 4 ᵃ⤻ᶻ «KI Gadgets»
Bestseller No. 5 ᵃ⤻ᶻ “KI Gadgets”
Please send any additions and information to the editorial team by email to de-info[at]it-boltwise.de. Since we cannot rule out AI hallucinations, which rarely occur with AI-generated news and content, we ask you to contact us via email and inform us in the event of false statements or misinformation. Please don’t forget to include the article headline in the email: “Bitcoin supply shock: 613,000 BTC disappear from Binance”.
The post 613,000 BTC disappear from Binance appeared first on Veritas News.
