Before bullish impetus dissipated, the flagship Cryptocurrency burst above the supply zone and closed in on $56,000. As the price of Bitcoin soars toward $60,000, supply on exchanges continues to dwindle. According to on-chain data from Santiment, only 2.42 million BTC are available on known exchange wallets, down from a three-month high of 2.55 million. Bullish behaviour indicates that the August micro downturn has finally ended, and the market may be gripped by the dread of missing out (FOMO).