As of March 21, there were fewer than 2.44 million BTC available on exchanges, the lowest amount since August 2018.
Crypto fund flows are slowing, which could suggest investor uncertainty about BTC's price.
BTC could peak by next June before entering a bear market, according to Chinese crypto miner Jiang Zhuoer.
"Falling implied volatility suggests that markets are expecting sideways price action," one analyst said.
Based on an analysis of price chart patterns, bitcoin is about halfway through its current bull market, which began around the March 2020 low.
Belfort, previously a bitcoin critic, now says he believes the cryptocurrency holds advantages over stocks.
Turks might be looking for bitcoin as a potential store of value against further currency weakening or as a hedge against inflation.
BTC is moving sideways as its short-term uptrend slows.
Price charts also are sending signals the oldest cryptocurrency might be losing steam.
The month-long uptrend from $43,000 remains intact, although longer-term signals are weakening.
Asian sellers meet North American buyers, as BoJ policy move reminds traders of timing patterns.
The cryptocurrency's price fell with stocks amid growing concerns about rising U.S. Treasury yields.
The number of unique addresses holding more than 1,000 BTC has shrunk by over 8% since Feb. 8 as whales take profits.
Bitcoin's rally reignited the short-term trend and will now test resistance around $60K as it eyes all-time-highs.
Bitcoin's price has doubled this year, partly because of demand from institutional investors who are looking for an asset that might hold its worth if the dollar’s purchasing power declines.