Bitcoin‘s scarcity is growing remarkably in the market as small and large-scale investors continue to accumulate a substantial portion of the available coins, which could bolster BTC’s value in light of recent upside price momentum, signaling a potential extension of the uptrend.

A Significant Decline In Bitcoin Supply Ratio

Kyle Doops, a technical analyst and host of the Crypto Banter show, has reported a notable shift in Bitcoin’s key on-chain supply metric, particularly the Long/Short-Term Holder Supply Ratio, triggering speculations about BTC’s next price trajectory within the community. The decline in the critical metric typically means that long-term holders are becoming less dominant than short-term holders, indicating a drop in confidence among long-term investors.

According to Kyle Doops, the Long/Short-Term Holder Supply Ratio has dropped sharply to about 3.6, marking its lowest level in the ongoing market cycle. This significant drop to a new cycle low highlights a shift in BTC’s market dynamics. 

Furthermore, Kyle Doops stated that the development suggests fewer participants are sticking to long-term holdings, and sell-offs are gradually increasing. As a result, the market expert is confident that something massive could be imminent as the balance between short-term and long-term holders continues to change.

Other key metrics, such as Bitcoin’s Taker Buy/Sell Ratio, are displaying a positi

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Author: Godspower Owie