Bitcoin has reached a major supply milestone, with more than 19.95 million BTC now mined. This represents 95% of its fixed maximum supply of 21 million coins. The development has renewed discussion about long-term scarcity and how it may affect Bitcoin’s price.
Only around 1.05 million BTC remain to be mined, and new issuance will continue to slow as the network moves through future halvings.
A small portion of Bitcoin’s supply is permanently inaccessible. About 230 BTC cannot be spent because of early technical issues, and many more coins are believed lost due to forgotten or unrecoverable private keys. This reduces the amount of Bitcoin that can circulate in the market.
Bitcoin’s supply follows a predictable schedule. Rewards for miners are cut in half every 210,000 blocks. The most recent halving on 20 April 2024 reduced the block reward from 6.25 BTC to 3.125 BTC, lowering daily issuance from 900 BTC to around 450 BTC. The next halving is expected in April 2028, and the final fractions of Bitcoin are projected to be mined around the year 2140.
Despite the tightening supply picture, Bitcoin’s price has weakened. BTC has dropped to the mid-$80,000 range and recently broke below a long-term rising trendline that supported much of its 2024 performance. It is now trading under both the 20-day and 50-day exponential moving averages, signalling continued bearish momentum.
Analysts note several technical factors that point to caution. Bitcoin has completed an ABCD pattern near its $115,000 peak and fallen out of a rising wedge, both typically associated with deeper corrections. The price is approaching a demand zone between $83,800 and $74,500, an area where strong buying previously entered the market. The Relative Strength Index is near 28, showing oversold conditions, but no clear bullish divergence has formed yet.
A recovery above $96,000 would be an early sign of stabilization. A further move above $100,700 could allow Bitcoin to retest the $115,200 area if market sentiment improves. If the price fails to hold the current demand zone, analysts warn that $74,500 could become the next key support level.
Market watchers say these conditions resemble the early stages of an accumulation phase. A confirmed rebound could support not only Bitcoin but also major altcoins such as Ethereum, Solana, and XRP.
