Santiment warns of a potential surge to $110K (approximately €91,708) post-holidays as optimism grows again. The Binance BTC reserve has dropped from over 630K BTC to 579K BTC in four months.

The Bitcoin [BTC] reserve on the Binance exchange has fallen to its lowest levels since January 2024, a trend viewed by a CryptoQuant analyst as a positive long-term outlook for the asset. Since August, Binance's reserve has decreased from 630K BTC to nearly 580K BTC. These low levels were last seen in January, just before U.S. BTC ETFs launched, causing a 90% price surge, noted by the anonymous analyst Dark Fost.

Since August, Binance's reserves have declined from 630K BTC to nearly 580K BTC. These low levels were last seen in January, just before U.S. BTC ETFs went live and caused a 90% price increase, as noted by anonymous analyst Dark Fost.

The declining reserve indicates that more BTC has been moved from Binance to self-custody, suggesting a potential price increase in the future. Fost added that this outflow reinforces the positive long-term prospects for BTC. Interestingly, the drop in BTC reserve on Binance from August to December coincided with the cryptocurrency reaching a record high of $108K (approximately €90,336). With Christmas behind us and attention turning to Trump's upcoming inauguration, what's next for BTC?

Ryan Lee, chief analyst at Bitget Research, anticipated that BTC would remain within a range of $94K (approximately €78,684) to $105K (approximately €87,723), with a possible breakout after the holiday season. He stated:

"The expected trading range for BTC this week is $94,000 – $105,000. The price is expected to exceed $105,000 post-Christmas."

Since Christmas Eve, BTC has flirted with $100K (approximately €83,703), intensifying calls for a rise to $110K (approximately €91,708) in recent hours. However, Santiment cautions that a breakout to $110K is most likely to occur when it's least expected. The analytics firm stated:

"Traders are now optimistic again, with speculation of $110K increasing. Historically, we will only see $110K Bitcoin when the masses don't expect it, as this graphic shows."