Bitcoin is witnessing a resurgence in demand in the US, with significant declines in exchange reserves. The Coinbase Premium, a metric indicating the price difference between Coinbase’s BTC/USD and Binance’s BTC/USDT, reached $109.55 on June 6, its highest since early February, signaling robust buyer interest. According to data from CryptoQuant, US Bitcoin demand indicates a return to positive market conditions, even without signs of overheating. Additionally, spot exchanges have seen a drop of over 550,000 BTC in reserves since July 2024, highlighting a trend where investors are holding onto their Bitcoin rather than trading. Analysts predict that this accumulation trend could lead to further price increases, with Bitcoin potentially approaching $110,000. The increased institutional involvement, as evidenced by BlackRock’s iShares Bitcoin Trust rapidly reaching $70 billion in assets, also supports this bullish outlook. Investors are pulling Bitcoin off exchanges, indicating a long-term holding strategy rather than day trading, which is expected to contribute to upward market dynamics in the latter half of 2025.

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