
Jakarta, Pintu News – Yesterday, Bitcoin hit a new all-time high of $125,708 on Binance, signaling further upside potential in the market.
Recent data from CryptoQuant shows a significant drop in the average amount of Bitcoin (BTC) going to exchanges like Binance. This decline suggests that Bitcoin (BTC) holders prefer to keep their assets in cold wallets rather than sell them on the market.
This could trigger a scarcity of Bitcoin (BTC) supply which in turn could drive tremendous price appreciation in a short period of time. As the price of Bitcoin (BTC) has risen from $108,000 to $125,000 in recent weeks, the average inflow has fallen from 0.55 to 0.48. This suggests that the current price increase is driven by organic market demand and storage behavior, rather than by a wave of speculative selling.
Also Read: 5 Ways to Check Crypto Wallet: Monitor Assets & On-Chain Activity in Real-Time

According to analysts from CryptoQuant, current market conditions indicate low selling interest and strong demand for Bitcoin (BTC). However, if there is a sudden surge in inflows to exchanges in the coming days, this could be an indication that big players are preparing to sell.
In such a scenario, a short-term price correction is possible. Basically, the current increase in Bitcoin (BTC) price does not coincide with a wave of speculative selling, but is based on a reduction in selling pressure. This supports the uptrend in the short term, but investors are advised to remain vigilant against sudden changes in inflows to the exchange.

Although Bitcoin (BTC) has created new highs, some crypto analysts predict that the digital asset could register further gains in the coming quarters. Crypto analyst Rekt Capital predicts that Bitcoin (BTC) could peak around mid-November.
Additionally, a recent analysis by the team at The Bull Theory predicted that Bitcoin (BTC) could surge up to $143,000 in October. Historically, October has been one of the strongest months for Bitcoin (BTC) price appreciation. However, Bitcoin (BTC) must first successfully break the strong resistance at $125,000 and maintain the support level at $118,000.
With current market conditions showing low short interest and strong demand, the opportunity for a Bitcoin (BTC) price increase still seems wide open. However, it is important for investors to monitor changes in inflows to exchanges, as this may provide an early indication of a change in market trends.
Also Read: 5 Coin Memes Predicted to Explode After Bitcoin Breaks $125,000
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*Disclaimer
This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities are subject to high risk and volatility, always do your own research and use cold hard cash before investing. All activities of buying andselling Bitcoin and other crypto asset investments are the responsibility of the reader.