Falling bitcoin exchange balances signal strong holder sentiment as bitcoin hovers around $94,000. ARK Invest raised its decade-end bitcoin (BTC) price target to as high as $2.4 million apiece after revising its assumptions on active supply, which excludes lost or long-held coins. The largest cryptocurrency by market value was recently trading around $94,000. The bull-projection figure, 60% more than its January 2024 estimate, reflects a 72% compound annual growth rate (CAGR) from last December through the end of 2030. The base case estimates a BTC price of $1.2 million — a 53% CAGR — while the bear case projects $500,000, equating to a 32% CAGR. David Puell, an analyst at the Cathie Wood-led investment company, used a model based on total addressable market and projected market penetration across several sectors. These include institutional investment, bitcoin’s role as "digital gold," its use as a haven in emerging markets, adoption for nation-state and corporate treasury holdings and on-chain financial services built on the bitcoin network. In November last year, Puell targeted $104,000-$124,000 by year-end. Bitcoin ended December at $93,440 en route to hitting a record high of $109,000 in January before slumping to lows around $74,500 earlier this month. The rally since then is partly driven by declining exchange balances, which indicate that more BTC is being withdrawn into private wallets, a sign of long-term holding behavior. According to Glassnode data, exchange-held BTC has fallen from approximately 3 million in November 2024 to 2.6 million, reinforcing the growing bullish sentiment around the cryptocurrency. James Van Straten is a Senior Analyst at CoinDesk, specializing in Bitcoin and its interplay with the macroeconomic environment. Previously, James worked as a Research Analyst at Saidler & Co., a Swiss hedge fund, where he developed expertise in on-chain analytics. His work focuses on monitoring flows to analyze Bitcoin's role within the broader financial system. In addition to his professional endeavors, James serves as an advisor to Coinsilium, a UK publicly traded company, where he provides guidance on their Bitcoin treasury strategy. He also holds investments in Bitcoin, MicroStrategy (MSTR), and Semler Scientific (SMLR). https://www.coindesk.com/markets/2025/04/25/ark-invest-raises-2030-bitcoin-price-target-to-as-high-as-24m-in-bullish-scenario #crypto #bitcoin #ethereum #cryptocurrency #news #blockchain #litecoin #cryptonews #cryptonewstoday #cryptoworld #cryptonewstoday ***NOT FINANCIAL, LEGAL, OR TAX ADVICE! JUST OPINION! I AM NOT AN EXPERT! I DO NOT GUARANTEE A PARTICULAR OUTCOME I HAVE NO INSIDE KNOWLEDGE! YOU NEED TO DO YOUR OWN RESEARCH AND MAKE YOUR OWN DECISIONS! THIS IS JUST ENTERTAINMENT! This information is what was found publicly on the internet. This information could’ve been doctored or misrepresented by the internet. All information is meant for public awareness and is public domain. This information is not intended to slander harm or defame any of the actors involved but to show what was said through their social media accounts. Please take this information and do your own research. bitcoin, blockchain, crypto, cryptocurrency, altcoin, investment, ethereum, bitcoin crash, xrp, cardano, ripple