Bitcoin Surges 9% to $109,382 as Binance Reserves Hit Record Low

Bitcoin has surged above $109,000, reclaiming its short-term breakout and holding gains above $109,382. This price movement comes as Binance's reserves hit a record low of under 520,000 BTC, signaling a significant supply squeeze. The drop from the 660,000 BTC peak in 2023 indicates a steady drain of coins from centralized exchanges, which has not led to panic-selling or sharp rejection in Bitcoin's price.

Bitcoin's price has faced resistance at $110,928 after reclaiming the $108,000 demand zone. The cryptocurrency's cycle now echoes the 2017 and 2021 rallies, with the bullish structure holding firm. The path higher outlines a rally toward $113,000 as long as Bitcoin reclaims $110,928 on strong volume and follow-through. The previous local highs from June 24 and 25 have already been cleared, adding weight to the argument for renewed upside. Price is consolidating inside a bullish flag, suggesting continuation is still in play.

Bitcoin's supply on Binance has dropped below 520,000 BTC for the first time in recorded history. This drop from the 660,000 BTC peak in 2023 signals a steady drain of coins from centralized exchanges. Even with shrinking reserves, Bitcoin stayed firm above $109K -no panic-selling, no sharp rejection. The reserve collapse reveals a clear divergence between supply behavior and price action. This imbalance underscores the ongoing demand-driven structure behind Bitcoin’s bullish momentum. Traders now question whether $BTC can maintain strength with exchange levels this thin.

The breakdown below 540K BTC occurred while Bitcoin consolidated above $100K, showing minimal selling pressure into weakness. Price continues to trade with conviction, signaling strong hands absorbing supply outside centralized venues. With inventory draining, bulls retain control despite looming resistance. Bitcoin’s long-term trend remains intact, with each cycle creating higher all-time highs. The recent 2025 top reversed after tagging trendline resistance, mimicking the 2017 and 2021 market structure. However, the post-top drawdown remains shallow compared to prior cycles, leaving a bullish bias on the table.

The chart shows Bitcoin’s vertical moves followed by rounding tops and measured corrections that align with previous cycle behavior. Price currently trades just below 2025’s peak but far above the mid-2024 consolidation zone. Buyers may look to defend that region if momentum fades further. This macro pattern of parabolic climb, blow-off top, and consolidation continues to play out without deviation. Bitcoin’s structure still favors bullish continuation while maintaining its position above previous resistance clusters. Traders await further confirmation above $110,928 to validate strength into year-end.