Bitcoin’s declining exchange reserves, rising U.S. exchange dominance, and bullish technical signals suggest a potential rally in the second half of 2025. Key metrics like the Stablecoin Supply Ratio and moving averages indicate significant upside if current trends hold.
- Bitcoin exchange reserves have dropped to levels last seen in 2018, with only 2.43 million BTC held on exchanges compared to 3.4 million in 2021.
- The 90-day SMA crossing above the 365-day SMA is a historically strong bullish signal for Bitcoin's price.
- U.S. exchanges are regaining dominance in BTC transfer volumes, as reflected in the rising 'US vs. offshore ratio.'
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