TLDR
Bitcoin is currently trading below $100,000 after dropping from its all-time high of $109,000 in January 2025, with Standard Chartered setting an ambitious target of $500,000 before the end of Trump’s presidency (2028)
Exchange reserves for Bitcoin are showing a steady decline, suggesting an accumulation phase as investors move their holdings off exchanges for long-term storage
BlackRock’s Bitcoin ETF (IBIT) has seen remarkable growth with holdings increasing by 726% to 585,393 BTC, and the firm is planning to launch a Bitcoin ETP in Europe
Trump’s administration is expected to implement crypto-friendly policies, including regulatory changes and a new crypto task force, which could support price growth
The Coinbase Premium Index has broken through the “0” resistance level, potentially indicating renewed institutional interest
Bitcoin’s price has settled below the $100,000 mark following a retreat from its recent all-time high of $109,000 recorded in January 2025. Currently trading at $98,000, the leading cryptocurrency is showing signs of accumulation as exchange reserves continue to decline.
Data from cryptocurrency analytics platform CryptoQuant reveals a persistent downward trend in Bitcoin exchange reserves, indicating that investors are moving their holdings away from trading platforms. This behavior typically suggests a shift toward long-term holding strategies.
Standard Chartered’s Head of Digital Asset Research, Geoffrey Kendrick, has maintained an optimistic outlook for Bitcoin’s future. The bank has set a price target of $500,000 for Bitcoin before the end of Trump’s presidency in 2028, requiring a 455% increase from current levels.
Looking back at Bitcoin’s performance in 2024, the cryptocurrency recorded gains of 156%. This growth was largely attributed to the approval and launch of spot Bitcoin ETFs in the United States, which brought substantial institutional capital into the market.
BlackRock’s Bitcoin ETF (IBIT) has emerged as a particularly successful product, with its Bitcoin holdings increasing by 726% since launch. The fund currently holds 585,393 BTC, demonstrating strong institutional demand for cryptocurrency exposure through traditional financial products.
The success of U.S.-based Bitcoin ETFs has prompted BlackRock to expand its cryptocurrency offerings. The asset management giant is now preparing to launch a Bitcoin ETP in Europe, which could bring additional capital flows into the market.
Trump’s administration has indicated plans for cryptocurrency-friendly policies, including potential regulatory changes and the establishment of a dedicated crypto task force. These developments have contributed to positive market sentiment, despite current price consolidation.
The Coinbase Premium Index, which measures the price difference between Bitcoin on Coinbase and other exchanges, has recently broken through the “0” resistance level. This metric is closely watched by traders as it can indicate institutional buying pressure, particularly given Coinbase’s popularity among professional investors.
Market analysts note that the current decline in exchange reserves could create a supply shock scenario. When fewer Bitcoin are available on exchanges for trading, any increase in buying pressure could lead to more pronounced price movements.
Bitcoin’s average market bottom has established around $90,000 since the November 2024 elections, representing a 30% increase during this period. This price level has served as a support zone during recent market fluctuations.
Trading volumes have remained steady despite the price pullback, suggesting continued market engagement. The combination of reducing exchange reserves and maintained trading activity indicates active market participation rather than widespread selling pressure.
Current market conditions show similarities to previous accumulation phases, where periods of price consolidation were followed by upward movements. However, the market continues to respond to various factors, including macroeconomic conditions and regulatory developments.
Recent data from on-chain analytics shows that long-term holders continue to increase their positions, with the percentage of Bitcoin unmoved for more than one year reaching new highs. This metric often correlates with reduced selling pressure in the market.
The cryptocurrency market is particularly focused on developments within Trump’s administration, as policy changes could influence Bitcoin’s regulatory environment and institutional adoption rates. The administration’s stance on interest rates and financial regulations could play a crucial role in Bitcoin’s price trajectory.
Technical analysis indicates that Bitcoin maintains support above $95,000, with resistance levels established near the recent all-time high of $109,000. Trading patterns suggest consolidation rather than trend reversal, with decreased volatility compared to previous months.
The latest market data shows Bitcoin’s exchange reserves continue their downward trend, with the current level reaching [specific number] BTC, representing a [specific percentage] decrease since January 2025.
