Bitcoin rose to a two-month high

Bitcoin BTC $99,625.77 Mezo Wrapped BTC 1.76% Market capitalization $57.92 million VOL. 24 hours $2.25 billion recovered sharply to reach a two-month high of $ 97,500, shifting the market’s attention away from previous indecision. New blockchain data and technical analysis suggest that the market is approaching a key moment.

According to Santiment, the number of active wallets has decreased by about 47,000 over the past three days, indicating that small investors are leaving. At the same time, the balance of bitcoin on exchanges has dropped to a seven-month low, reducing pressure from sellers and supporting growth.

Analysts note that this combination — lower supply on exchanges and weaker participation of retail traders — has historically contributed to stability or the continuation of an uptrend. The current price movement looks more sustainable than speculative.

From a technical perspective, Bitcoin continues to move in an upward channel. According to EGRAG CRYPTO, the price is squeezing near the lower boundary of the structure, which often precedes a decisive breakout.

Key levels remain crucial: closing the week above $ 105,000 will confirm buyer control and open the way to new price zones. A drop below $ 80,000 would mean a channel exit and the risk of a deeper correction.

The market is currently maintaining a positive trend. Given the shrinking supply on exchanges and the approach to a critical point on the chart, the next week’s closes could be decisive for the further movement of Bitcoin.