Bitcoin Deja Vu: Indicator Mirrors Pattern That Led To 2021 Top
Summary
Bitcoin's long-term holders, who have kept their coins dormant for over 155 days, are showing a trend similar to that before the 2021 bull run's peak. The supply held by these holders is declining, indicating potential selling. This pattern has historically preceded market tops. The current flat movement in supply suggests a potential peak for the current bull run, but it's uncertain if the distribution has truly ended. Bitcoin's price is currently around $62,700, down nearly 2% in the past week.
