Bitcoin supply hits 7-year low – Is a massive price surge coming?

Key Points

1. Bitcoin's exchange-held supply dropped to 14% of the total circulating supply, the lowest level since 2017, with a 9.4% decline in June alone.

2. A $40 million short liquidation near $104,984 pushed BTC back up to $107k, with an intraday rally of 1.17% at press time.

3. 86% of BTC is now held off-exchange, suggesting the current low-volatility range could precede a high-momentum breakout.

4. CryptoQuant’s Bitcoin Trading Volume Ratio (Spot vs. Derivatives) flipped upwards, hitting a monthly high, indicating a potential shift in liquidity flow.

5. Spot volume has been climbing, and with exchange-held supply at a 7-year low, a supply squeeze could trigger a significant price surge.