Bitcoin’s Supply Surge Signals New Selling Wave

Key Points

1. Bitcoin's active supply within 180 days has increased by about 2.4% in June, coinciding with an early distribution phase as the price hovers around $118,000.

2. A breakout above $120,000 could elevate the active supply to the 8-10% band and later to the 18-20% range seen in previous peaks.

3. In 2024, when Bitcoin's price reached $70,000, supply activity jumped to 20%, indicating a pattern of increased movement during price climbs.

4. The market may accelerate past $120,000 before experiencing a moderate selling wave, with data potentially spiking more sharply once this threshold is crossed.

5. Analysts suggest that the increasing supply movement could trigger sales, similar to past trends observed during Bitcoin's price surges.