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TronWeekly

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Bitcoin Nears Highs, Exchange Outflows and Macro Moves Drive Momentum

  • Bitcoin surged by 9.01% in a week, reaching $103,276, nearing its January peak.
  • Over 3,000 BTC were withdrawn from Binance, hinting at increased investor holdings.
  • Binance's BTC reserves dropped significantly from 595,000 BTC in February to 541,400 BTC in mid-May, indicating a trend of moving assets off exchanges.
  • The rise in Bitcoin price is supported by macroeconomic factors such as improved U.S.-China trade relations, with the Fear & Greed Index signaling cautious optimism among investors.

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