In our last Bitcoin market analysis, we discussed the potential for a bearish reflexive rally.
Throughout 2022, Bitcoin’s price has remained rangebound and volatile due to an overall lack of demand.
As we can see in the chart above, a majority of Bitcoin’s circulating supply has shifted to being accumulated, rather than sold.
Currently, it appears that institutions are anticipating a parabolic price rally.
Coinciding with the data in the chart above, Coinshares reported last week that digital asset investment products saw their largest inflows since December 2021.
Lastly, the percentage of Bitcoin’s supply aged 1+ years also typically acts as a leading indicator for parabolic price rallies.
Disclosure: I/we have a beneficial long position in the shares of BTC-USD either through stock ownership, options, or other derivatives.