Bitcoin Active Supply Down 17%: Here’s What Followed Last Time

Key Points

1. Bitcoin's 30-day change in % Supply Active has dropped by 17%, similar to a pattern observed in September 2024.

2. The active supply metric indicates reduced activity, with the current value at -17%, meaning 17% less of the 180-day supply is active.

3. Historical data suggests that such drops in active supply have preceded significant price movements for Bitcoin.

4. The article references a CryptoQuant analysis by Axel Adler Jr., highlighting the recent plunge in the Bitcoin % Supply Active metric.

5. Despite Bitcoin's price reaching above $100,000 earlier in the year, the active supply did not reflect increased activity, and the metric has since declined further.