28.10.2021

BTC Supply Reduction Ratio Indicates Upcoming Growth

Crypto analyst William Clemente observed that the BTC Supply Decline (a metric that tracks the amount of Bitcoin in the hands of strong and weak hands) is showing a bullish divergence.

The co-founder and CTO of cryptanalyst company Glassnode believes the network data points to an imminent Bitcoin supply crisis.

According to the latest data from the company, almost 2,000,000 BTC have gone from short-term to long-term holders since April this year.

Rafael Schulze-Kraft of Glassnode emphasizes that “supply will not match demand.”

Glassnode defines a long-term holder as any Bitcoin user who has held their BTC for at least 155 days.

Clemente notes that the current level of online activity is similar to that seen in June and July, right before the largest digital asset by market cap experienced its August surge.

“Bullish divergence between online investor activity and price, as in June / July.”

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