Analysts predict a major Bitcoin supply shock before the halving
Analysts anticipate a major Bitcoin supply shock heading into April’s halving as BTC is down by nearly 10% since ETF approval. Bitcoin’s supply dynamics have significantly changed since the SEC approved spot Bitcoin ETFs earlier this month. The leading token has been largely volatile in the past few weeks, but this volatility has remained within a very narrow price range. BTC’s price has fluctuated between $41,000 and $44,000, dropping below $41,500 today, the lowest price in 30 days. Analysts attribute these short price movements to supply dynamics driven by the ETF market. Since yesterday, according to data from Arkham Intelligence, Grayscale has transferred over $1 billion worth of BTC to Coinbase from its ETF fund. With other major funds contributing to this massive inflow of around 5,000 to 7,000 BTC daily to their custodian exchanges, only 900 BTC is being mined daily. INSANE #Bitcoin supply shock incoming. If we keep up massive BTC ETF inflows we’ll have thousands (5...