Bitcoin Breaks Above Four-Week Range as Binance Experiences Significant Outflows

Bitcoin's price has finally broken above its four-week consolidation range, trading around $83,460 after expanding toward $87,000. This move keeps intact a breakout that began weeks ago.

Binance, a major cryptocurrency exchange, experienced significant outflows, with over 13,800 BTC leaving the platform in a single day. Additionally, the exchange's reserves fell by approximately 20,000 BTC, contributing to an increase in supply-side support for Bitcoin.

For Bitcoin to reach its next target of $100,000, it must clear the current rejection zone between $85K and $87K. If this happens, liquidity is expected to become more pronounced.