Bitcoin Price Forecast: Can BTC Hit $145K After October ETF Surge?

The post Bitcoin Price Forecast: Can BTC Hit $145K After October ETF Surge? appeared first on Coinpedia Fintech News

The Bitcoin price has shown remarkable strength at the start of Q4, trading around $121,302 with a market cap of $2

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Lower Exchange Reserves Signal Long-Term Bullish Outlook

In addition to technical alignment, BTC’s volume profile also supports an optimistic outlook. The FRVP POC-based support that proved critical in Q3 has once again emerged as a key area for Q4. BTC is currently testing this support level, which, if held, could set the stage for the next leg higher toward $145K.

Meanwhile, Bitcoin price USD dynamics are benefiting from continuous declines in exchange reserves. Since Q3, reserves have dropped significantly, signaling that investors are moving coins off exchanges, which is a clear sign of long-term holding intentions.

With fewer coins available for sale, supply scarcity continues which is further strengthening the case for a bullish BTC price prediction narrative.

The current market conditions also suggest that it’s a matter of time before bear pressure fades, then bulls will shine even brighter.

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