BTC has shown an impressive recovery, with the asset continuing to hover above the $90,000 level on the chart. Recent developments suggest that another rally could be approaching and that a broader recovery may already be underway.

Interestingly, historical data shows that when rising active supply, a plunging hash rate, and forced selling converge, it often marks a favorable turning point for Bitcoin. In 2021, when these patterns aligned, the asset formed its market bottom and went on to experience a sustained rally.

Bitcoin now appears to be moving through a similar phase, having rebounded from the $79,000 region to its current level. This move points to renewed capital inflows and growing demand. Bitcoin’s continued rally will depend heavily on its ability to overcome the strong selling pressure at current levels.

Failure to break through this supply zone could push the asset lower again, potentially sending the asset back below the $90,000 mark. However, if bullish momentum persists, Bitcoin could be set for a significant breakout. For now, historical patterns and growing miner reserves remain key indicators supporting the case for a potential rebound.

As of now, at the time of writing this article, BTC is being trade around $89,900 and has a market capitalization of $1.792 Trillion.

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