Bitcoin Rally Signal? Analyst Links Binance Spot Volume Surges To Price Upswings

Bitcoin (BTC) may be on the threshold of another march, as Binance has seen the prominent exchange of cryptocurrencies from about 40 % to July 15 to 60 % on July 18. Historical data indicates that the increases in the instant market share in Binance were frequently preceded by BTC price.

Bitcoin Rally Washing? Binance data indicates this

According to A Cryptoquant Quicktake Post by the Amr Taha shareholder, the Binance share in the instant market increased to 58 % on July 23, and has strengthened the support of the excellent currency of $ 117,000.

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This represents a prominent rise in the immediate market domination of Binance this month. On July 18, Binance’s share increased to 60 %, coinciding with Bitcoin, which exceeds $ 117,000 on the daily chart.

source: Cryptoquant

Since then, a level of $ 117,000 has been a reliable support zone, which is likely to be supported by deep liquidity in Binance and high reliability of implementation. Prices have been observed at this level several times since the initial penetration.

In addition, the price of Bitcoin has shown strong flexibility about the price of the treatment for one -day treatment to one unwanted week (UTXO), which is currently approaching $ 118,300.

As for the context, Utxo Age Bitcoin domains are classified as a portfolio based on the period in which they remained incomplete, providing an insight into the investor’s behavior. Local domains-from one to one week-usually reflects the activity by the newer or speculators, while the long ranges-from 6 months to 5 years-are associated with a long-term pregnancy with stronger conviction. Taha explained:

Historically, this scale acts as a dynamic support level, indicating that new people with events are not characterized and that the average medium cost of the series of new buyers respects the market.

Meanwhile, Titan of Crypto’s colleague moved to X to highlight BTC in the wake of the back and the shoulders. In the X Publication, an analyst in the next weekly scheme participated, adding that BTC was on the right road to hitting a target of $ 144,000.

Will BTC reach $ 180,000 by the end of the year?

Its highest ever in Bitcoin (ATH) of $ 123,218 Reigned Speculation on higher price goals before the end of the year. According to Cryptoquant Lee Chairman, BTC is still on the right path to reach $ 180,000 by the end of 2025.

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The recent standards on the series support this upscale view. It is worth noting that the Bitcoin IFP index Suggest Their main holders continue to keep BTC despite its proximity to the high measurement – unlike previous sessions, as exchange flows usually precede great corrections.

However, not all indicators indicate the top. Recently exchanging reserves receipt The highest levels since June 25, raising concerns about potential pressure. At the time of the press, BTC is trading at 119,097 dollars, an increase of 0.6 % over the past 24 hours.