Bitcoin is displaying a head-shoulders pattern in reverse. The declining supply on trading platforms is another factor that will help Bitcoin.
Bitcoin holdings on exchanges are on the verge of dropping below two million, the lowest level since 2017, according to a piece published earlier today by cryptocurrency analyst Master of Crypto on X. There is less Bitcoin available for sale right now since investors are putting their holdings into long-term storage. If demand keeps increasing, this supply shortage may put upward pressure on prices.
Another Bitcoin analyst, apsk32, meantime, emphasized how BTC continues to follow the power curve cycle. For 15 years, Bitcoin has remarkably followed this cycle, and if the tendency continues, the next cycle peak may take place in November or December 2025.
