Bitcoin (BTC) surged past the significant $95,000 threshold on Thursday as confidence among long-term holders was reignited. With indicators showing a decrease in the flow of BTC to exchanges, there is anticipation that the coin may soon hit the $100,000 mark once again.

The number of unique wallet addresses sending BTC to exchanges has reached a four-year low, standing at 19,282 addresses, down by more than 60% in the past month. This decline in exchange inflows is seen as a sign of reduced selling pressure, indicating a positive sentiment in the BTC market.

Historically, periods of low exchange inflows have been associated with strong price performances as decreased selling activity limits the coin's availability on trading platforms, leading to an increase in BTC's value. The Taker Buy Sell Ratio on Binance also supports the bullish outlook, with more buy orders being executed compared to sell orders, signaling a demand-driven market.

Additionally, the Elder-Ray Index for BTC's technical analysis reflects a surge in buying pressure, suggesting a potential breakout above resistance levels toward $100,000. However, a return to profit-taking behavior could negate this optimistic forecast, potentially causing BTC to dip below $95,971 and trend towards $91,851.