Bitcoin 30D Active Supply Drops 17%: Just Like It Did Before The Late 2024 Rally
Main Idea
Bitcoin's price is showing bullish momentum, nearing its all-time high, with key on-chain metrics indicating potential for further growth as active supply drops and demand builds.
Key Points
1. Bitcoin's price has risen 45% since April, trading just under 4% below its all-time high of $112,000, with strong support levels around $103,600 and $100,000.
2. The 30-day change in Bitcoin’s active supply percentage is at -17%, indicating reduced activity, a pattern seen before previous major rallies.
3. A decline in active supply suggests a tightening effect, which, when combined with returning demand, often leads to sharp price increases.
4. Bitcoin is currently testing key resistance levels, with a decisive break above $109,300 potentially triggering a new upward phase.
5. The 50-week moving average is rising sharply, currently at $85,961, reinforcing the bullish trend as Bitcoin consolidates near all-time highs.
Description
Bitcoin is up 45% since bottoming out near $75,000 in April and is now trading just under 4% away from its all-time high of $112,000. After weeks of consolidation and multiple failed breakout attempts, the market is entering a critical phase. Price action in the coming days will likely determine the next major move—either a clean push into price discovery or a pullback into key support levels around $103,600 and $100,000. Momentum has been building steadily, with bullish sentiment returning as m...
Latest News
- New Study Says Bitcoin Could Reach $4.81M by 2036, Driving Bitcoin Hyper Into Overdrive2025-08-15 15:17:39
- Bitcoin Supply Dynamics Paints A Clear Picture of The Current Phase Of The Market2025-08-15 14:03:44
- Coinbase Drops $3 Billion To Snag Deribit In Major Crypto Shake-Up2025-08-15 13:03:25
- US Treasury Bessent Backtracks BTC Reserve Statement – Next Crypto to Explode2025-08-15 12:05:23
- U-Turn In Cardano Governance: Foundation Backs Crucial Funding2025-08-15 12:03:02