After a brief struggle to regain footing, Bitcoin finally broke through the $52,000 barrier on Feb. 14. While $50,000 was a critical psychological benchmark, trading above $52,000 indicates rising market confidence in Bitcoin and can mean the end of the bear market.
During periods of price volatility, especially significant upward movements, it’s important to analyze the availability of Bitcoin’s supply. Knowing how much of Bitcoin’s supply is theoretically available for trading can show us the amount of buying or selling pressure the market could absorb. An increase in supply ready to be traded can cause the price to drop if there’s no demand to meet it. Conversely, a decrease in the supply of Bitcoin that can be quickly bought can cause a supply crunch that leads to an increase in price.
Supply availability can’t be seen through a single metric. The supply of Bitcoin sitting in exchange wallets is usually taken as the best proxy, but it offers little depth. CryptoSlate anal
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