Crypto analysts reported a significant withdrawal of BTC from exchanges over the past 7 days, indicating investor confidence in positive market movement.
Massive BTC Withdrawal from Exchanges
According to a post by analyst Ali, no fewer than 10,000 BTC tokens have been withdrawn from cryptocurrency exchanges over the last seven days. Such a volume of withdrawal suggests that investors are confident in Bitcoin's price increase. Typically, when investors are confident regarding a price uptick, they move their holdings from exchanges to private wallets.
Bitcoin Price Analysis
On March 15, the price of BTC was $84,284.47. By March 19, it peaked at $86,825.36, but the market faced a 3.24% correction on March 20. Presently, the market has not fully recovered from the impact of this correction, although in the last 24 hours, the price of Bitcoin saw a 0.2% increase.
Bitcoin Price Predictions
According to Polymarket bettors, there is a 62% probability that the price of BTC will hit $110,000 in 2025. Additionally, they forecast a 48% chance that the price will exceed $120,000. Interestingly, there is a 14% probability of the price reaching over $200,000 and a 3% likelihood of the price hitting $1,000,000 by the end of the year.
The current Bitcoin market activity, including withdrawals from exchanges and price forecasts, indicates significant investor confidence in the upward trend. However, the market reflects optimism with a cautious angle alongside numerous speculations about future price movements.
