
Bitcoin price today jumped beyond $93,000 after bullish sentiment grew across the crypto market. Recent data from on-chain analytics firm CryptoQuant shows that Bitcoin reserves on Binance continue to fall, even while the price climbs.
With less Bitcoin available to sell, prominent crypto trader TED pillows predicts Bitcoin to surge towards $100K.
Why Binance’s Bitcoin Reserves Keep Falling
According to CryptoQuant, Bitcoin reserves on Binance are shrinking, even while BTC trades near $93,000. At first glance, some traders worry that fewer coins on exchanges means people are preparing to sell. But in reality, this decline is usually seen during strong bullish phases.
One major reason is the rise of self-custody.
When prices go up, long-term believers and whales typically move their Bitcoin into private cold wallets. This means they are not planning to sell anytime soon.
Growing massive demand from Bitcoin Spot ETFs in the U.S., like BlackRock and Fidelity, have been buying a lot of Bitcoin for their ETF products. These coins are held by trusted custodians, not on exchanges like Binance.
As a result, more BTC is locked away, and less is available for trading, a strong sign of institutional adoption pushing supply lower.
Derivatives Reset and Regulatory Shifts
Another key factor is the recent crypto market volatility in late November, when many leveraged traders were liquidated. This reduced margin trading activity and decreased the number of BTC held on Binance for derivatives and trading positions. This effect is temporary, not a change in long-term market direction.
On top of that, Binance continues to tighten global compliance, causing some users to redistribute funds. But this is considered a normalisation phase, not a negative outflow.
BTC Price Outlook: Key Levels Ahead
Meanwhile, Crypto trader Ted Pillows explains that Bitcoin’s sharp bounce above $91,000 has brought strong buying interest back into the market. Trading volume has climbed close to $86 billion, marking one of the most active days seen in several weeks.

As of now, Bitcoin is testing a very important resistance zone between $92,000 and $94,000. If Bitcoin manages to close above this level cleanly, momentum could accelerate fast and push BTC toward the next major target, the $100,000 mark.
Ted highlights $88,000–$89,000 as the nearest strong support area where buyers may step in again to stop a deeper correction.
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