Bitcoin has fluctuated below $98,000 since November 2024 but has recently managed to stay above this threshold, indicating potential for further price increases. A key factor is the declining Bitcoin reserves on exchanges, which dropped 13% to a six-year low of 2.67 million BTC. This decrease suggests that investors are holding onto their assets, anticipating a price rise. On February 5, over 17,000 BTC were withdrawn from exchanges, with experts indicating that significant players are buying during current dips. Additionally, the weakening US dollar has a bullish impact on assets like Bitcoin. Recent trends show a 1.7% decrease in the dollar's value, supporting a broader bullish sentiment in risk assets. Institutional interest is also rising, with US-based spot Bitcoin ETFs attracting approximately $2.5 billion in inflows recently. Lastly, technical analysis reveals a bullish flag pattern, suggesting a potential rally target of $167,000 if Bitcoin can successfully break above $101,800. Overall, these indicators point toward a positive outlook for Bitcoin in the short term.

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