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Since early 2023, Bitcoin’s exchange reserves have been in free fall, plunging from around 3.2 million BTC to just 2.4 million BTC—a low not seen in years. This steep drawdown signals that investors are pulling their BTC off exchanges, preferring private wallets over exchanges. This kind of outflow usually aligns with long-term holding behavior and, historically, has often come before major bull runs. Simply put, fewer coins on exchanges means less supply available to sell, as per the data provided by Crypto Banter. And when you combine that falling supply with signs of increasing demand, it’s why some analysts believe Bitcoin could be targeting a breakout above $90,000. Interestingly, the price has climbed from $16,000 in early 2023 to its current $84,000 while the reserve steadily declined. Yet, despite this increase, the reserves show no signs of reversing. Glassnode’s latest report adds another layer of critical information. Short-term holders (STHs), who bought BTC in the last 155 days, are sitting on sizable unrealized losses. The “Unrealized Loss per Percent Drawdown” has surged to levels typically seen at the onset of bear markets. Related: Schiff to Give Bitcoin Conference ‘Reality Check’ Similar to 2006 Warning However, the more crucial signal—the capitulation of long-term holders (LTHs)—is absent. “Historically, substantial expansions in unrealized losses among long-term holders have often marked the confirmation of bear market conditions.” In simpler terms, STHs are hurting, but LTHs remain unshaken. Until they start seeing losses, historical precedent suggests that a full-blown bear market hasn’t been confirmed yet. The MACD just flipped bullish with the blue MACD line crossing above the signal line. Momentum is shifting back in the bulls’ favor, and a continuation of this crossover could fuel an upward breakout. Currently trading at $84,600, BTC rebounded substantially from its recent low of $74,400. The key targets include 0.786 Fib: $85,726 (current hurdle) and 1.0 Fib: $88,804 (major resistance). Related: Bitcoin Mining Power Soars Past 1,000 EH/s, but Miners Struggles Intensify Further targets are set at 1.618 Fib: $97,693, 2.618 Fib: $112,078, 3.618 Fib: $126,462, and 4.236 Fib: $135,551. The key takeaway for traders: a daily close above $88,800 could confirm the next leg up toward $97,000 and eventually six figures if momentum continues. But failure to reclaim $85,700 decisively could mean more sideways action—or even a retest of the $81K–$78K zone. Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.

Bitcoin's price may soon experience significant volatility, according to on-chain analytics platform CryptoQuant, as 170,000 BTC recently purchased between three to six months ago has begun to move across wallets. The movement, attributed to short-term holders (STHs), is the largest since late 2021, and historically signals upcoming turbulence in the BTC market. “Around 170,000 BTC are moving from the 3–6 month holder cohort. Large movements from this group often signal that significant volatility is imminent,” CryptoQuant contributor Mignolet wrote. Speculators Stir BTC Market Ahead of Major Move The STH cohort — investors who typically hold BTC for under six months — are known for their reactive behavior to short-term narratives, frequently buying on hype and selling on fear.

Sonic Labs-linked wallet deposits $5.55M worth of S tokens to Binance A wallet suspected to belong to Sonic Labs, formerly known as Fantom Foundation, deposited 11.78 million Sonic Labs' native S tokens (approximately $5.55 million) into Binance about six hours ago, according to

Even though Bitcoin had a rocky start to the year, a new report by CoinGecko revealed that artificial intelligence tokens and meme coins continued to lead investor interest. In fact, they accounted for a combined 62.8% of attention during Q1. AI tokens alone captured 35.7% of global investor interest, surpassing meme coins, which held 27.1%. Among the top 20 crypto narratives for the quarter, six categories were related to meme coins, while five focused on AI. CoinGecko co-founder Bobby Ong shared in an April 17 post that the market is still clinging to trends from previous quarters, which suggests fatigue from a lack of innovation in crypto storytelling. The spike in meme coin interest earlier in the year was partly driven by political events, particularly around the inauguration of US President Donald Trump. His team launched the Official Trump (TRUMP) and Official Melania tokens in mid-January on the Solana network, WHICH briefly injectED SOME excitement into the meme coin space. Despite this surge, concerns are rising about the impact of meme coins on more fundamentally driven projects. Utility tokens like Solana have seen major capital outflows after briefly peaking above $270. Some critics argue that the meme coin frenzy diverted investment away from long-term blockchain infrastructure and application development. SOL’s price action over the past year The decline in enthusiasm was accelerated by the collapse of the Libra token,which is a meme coin that was endorsed by Argentine President Javier Milei. The token lost 94% of its value in a matter of hours after insiders reportedly withdrew more than $107 million in liquidity, erasing $4 billion in market capitalization. This scandal marked the sudden fall of political memecoins and led to a sharp drop in token creation acti$SOL vity on Solana’s Pump.fun platform.

Trump Media & Technology Group (TMTG), the company behind Truth Social, is raising the alarm over what it claims is suspicious trading activity involving its DJT stock. In a letter to the SEC’s acting chairman, the company points a finger at a UK-based firm, Qube, accusing it of shorting DJT shares without properly disclosing its position. TMTG says this kind of activity could be hurting its stock – and it wants regulators to step in. Here’s what’s really going on behind the headlines. What Exactly Is Trump Media Accusing Qube Of? According to Trump Media, Qube reported in Germany that it was short six million DJT shares—worth more than $100 million. But TMTG says Qube didn’t make the same disclosure in the U.S. or in other major markets. The company also claims that Qube’s short position has nearly doubled since then, reaching 11 million shares. If accurate, that would suggest Qube is making a major bet against the stock – without full transparency, raising concerns about possible market manipulation. Undisclosed short selling on a large scale can put serious pressure on a company’s stock price. TMTG believes this may be one reason DJT stock has dropped 35% so far this year. However, the company admits that short sellers aren’t the only factor behind the decline.