#Bitcoin exchange reserves hit a new low#

Recently, the reserve levels of Bitcoin exchanges have fallen to their lowest levels in nearly seven years, sparking market concerns. According to CryptoQuant data, as of January 13, the Bitcoin reserves of cryptocurrency exchanges have fallen to 2.35 million BTC, the lowest level since June 2018. This phenomenon is believed to be a result of institutional investors continuing to buy, taking advantage of the low prices, which has led to a decline in the Bitcoin supply on exchanges. Although the Bitcoin price may be driven higher by the supply shock, current trading volume is not sufficient to regain the $100,000 resistance level. Bitwise Research Director André Dragosch said that the decline in Bitcoin supply on exchanges may be due to institutional players' continued discount buying. The continued buying of Bitcoin by institutional investors indicates their confidence in the cryptocurrency market, and could push Bitcoin prices up further. However, the current lack of trading volume may limit Bitcoin's ability to break through the $100,000 resistance level.