Bitcoin (BTC) has shown resilience, trading just above $65,000, experiencing a slight 1.25% correction after a recent surge. This upward movement was fueled by weaker US CPI data, dovish FOMC sentiment, and a break from a symmetrical triangle pattern, indicating bullish momentum in the market.

Despite the bearish correction, the Bitcoin price prediction remains bullish, especially with Andrew Tate's announcement to invest $100 million in Bitcoin and the decreasing BTC supply on exchanges.

Bitcoin Supply on Exchanges Hits New Lows Amid Bullish Market

Bitcoin supply on centralized exchanges (CEX) has plummeted to new lows, signaling strong market activity and growing bullish sentiment. According to on-chain analytics firm Glassnode, the Bitcoin supply on exchanges now stands at 1,728,782 BTC, marking a significant decrease as traders move their assets off exchanges.

In the past 24 hours, 23,654 BTC exited exchanges, with weekly outflows reaching 19,859 BTC. This mass migration from exchanges suggests long-term holding and bullish market sentiment among investors.

Key Points:

- Binance saw 7,155 BTC outflows, while Coinbase Pro recorded 16,075 BTC outflows.

- Increasing bullish pressure is evident as traders move assets off exchanges.

- Positive CPI data and disclosures of exposure to spot Bitcoin ETFs by traditional finance firms have contributed to recent market activity.

Andrew Tate Plans $100M Bitcoin Investment

British-American social media personality and former professional kickboxer Andrew Tate has announced plans to invest $100 million in Bitcoin, expressing dissatisfaction with traditional banks and their practices. Tate declared his intention to move away from fiat currency, citing frustration with the banking system's scams.

Despite some skepticism from social media users, Tate remains committed to his crypto investment, emphasizing his determination to leave the traditional banking system behind.

Key Points:

- Tate criticized banks, calling their practices scams.

- He plans to move $100 million from fiat to Bitcoin.

- Despite controversy, Tate remains committed to his crypto investment.

Bitcoin Price Prediction

From a technical standpoint, Bitcoin's price prediction shows signs of retracement, with the cryptocurrency dipping below the $66,600 level. It has completed a 38.2% Fibonacci retracement around $64,750, acting as major support.

If Bitcoin holds above this level, a bullish bounce is likely, with immediate resistance around $66,600 and further hurdles at $67,820 and $69,000. Conversely, breaking below $64,750 could lead to further correction towards $63,300.

Bitcoin continues to demonstrate resilience amid market fluctuations, with bullish sentiment supported by decreasing supply on exchanges and growing institutional interest.