Bitcoin's $80,000 Supply Wall: On-Chain Data Exposes the 880k BTC Choke Point Crippling Institutional Rallies
0xAlex
I didn’t see the 880,000 Bitcoin supply wall blocking every rally toward 80,000 dollars coming until I traced the on-chain cost basis distribution through Bitfinex Alpha’s framework. One glance at the data and the narrative cracks. The true market mean sits at 76,350 dollars, while 77,500 to 80,300 dollars holds a concentrated 880,000 BTC layer that acted as the exact choke point during the last cycle leg. This isn’t random price action. It’s a forensic window into holder behavior that every institutional player missed until now.