Samson Mow’s $1M Bitcoin Forecast: BTC Supply Crunch Looms as Price Drops Below $83,584.82

Samson Mow, CEO of JAN3, a well-known Bitcoin advocate, has warned of an incoming supply crisis. He claims that Bitcoin is in a “bear trap” and could reach $1 million due to scarcity. With fewer coins available and growing institutional interest, supply constraints could push prices higher. Mow believes that the current market is underestimating Bitcoin’s long-term value. The sudden reduction in BTC supply could cause a major price rally. Traders and investors are watching closely to see how this situation unfolds.

Bitcoin’s Supply Shock and Price Speculation

Mow reinforced his argument in a recent tweet, stating:

Two words: bear trap.

— Samson Mow (@Excellion) March 28, 2025

Mow argues that Bitcoin’s real supply is much lower than expected. Many coins are locked in long-term holdings or lost forever. With Bitcoin’s fixed supply of 21 million, increasing demand could drive the price up rapidly. Large institutions and ETFs continue accumulating Bitcoin, reducing availability on exchanges. Some analysts agree, seeing a bullish outlook, while others warn of potential market volatility. The recent bear trap, where the BTC price dipped before recovering, supports Mow’s theory. If the supply crunch intensifies, Bitcoin could experience extreme price movements. Whether BTC reaches $1 million remains uncertain, but the current trends suggest strong upward pressure.

Bitcoin Bear Breaks Below $83,584.82

Following Samson Mow’s statement, BTC Price extended its downward momentum on March 28th. A death cross at 2:00 UTC signaled further weakness, with RSI confirming oversold conditions at 4:45 UTC. By 6:50 UTC, Bitcoin broke below $85,800.88, moving into a lower trading range. The bearish sentiment deepened with another death cross at 13:50 UTC, pushing the price to its next support at $83,584.82 by 14:50 UTC. However, a golden cross at 17:10 UTC triggered a brief recovery, leading to an overbought RSI by 23:00 UTC.

Chart 1, analyzed by ShwetaCW, published on TradingView, March 29, 2025

As trading continued into March 29th, a death cross on the MACD at 00:45 UTC resumed the downward trend, reinforced by another oversold RSI at 02:55 UTC. Further selling pressure emerged with a death cross at 9:15 UTC, leading to a sharp decline below the previous support. By 11:25 UTC, the BTC Price had reached $82,188.3. If the downtrend continues, Bitcoin Price Prediction suggests a possible breakdown below $82,000. On the other hand, a reversal could push BTC back into its previous trading zone, with resistance at $85,800.88 and support at $83,584.82.

Bitcoin’s Future Amid Supply Concerns

Samson Mow’s statement highlights Bitcoin’s tightening supply and potential price surge. With more BTC locked in long-term holdings, availability is shrinking. If demand keeps rising, BTC Price could see significant upward pressure. Currently, Bitcoin remains in a volatile phase. Bitcoin Price Prediction suggests that if the downtrend continues, it may fall below $82,000. However, a reversal could push it back to the $85,800.88 resistance. Market watchers are closely monitoring supply trends. As BTC Supply grows scarcer, its long-term value remains a major topic of discussion.

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