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.
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.
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.
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.
CoinPedia has been delivering accurate and timely cryptocurrency and blockchain updates since 2017. All content is created by our expert panel of analysts and journalists, following strict Editorial Guidelines based on E-E-A-T (Experience, Expertise, Authoritativeness, Trustworthiness). Every article is fact-checked against reputable sources to ensure accuracy, transparency, and reliability. Our review policy guarantees unbiased evaluations when recommending exchanges, platforms, or tools. We strive to provide timely updates about everything crypto & blockchain, right from startups to industry majors.
All opinions and insights shared represent the author's own views on current market conditions. Please do your own research before making investment decisions. Neither the writer nor the publication assumes responsibility for your financial choices.
Sponsored content and affiliate links may appear on our site. Advertisements are marked clearly, and our editorial content remains entirely independent from our ad partners.
WhiteBIT, the largest European cryptocurrency exchange by traffic, today announced its official launch in the…
As Bitcoin (BTC) begins to show fresh momentum after weeks of consolidation, investors are once…
ENA price is once again reacting strongly to its historically proven demand zone between $0.20–$0.25,…
Bitcoin price today surged more than 7% to reclaim the $93,000 level, gaining strong momentum…
Bybit, the world’s second-largest crypto exchange by trading volume, is spreading holiday cheer with a…
Richard Teng’s latest post on X added fresh momentum to an already busy week in…
