Bitcoin's Surge in Demand Takes Center Stage
As we approach the next Bitcoin halving, it's clear the market dynamics are evolving. Traditionally, halvings have signaled potential price increases as the rate of new Bitcoin entering circulation is halved. However, the impact of these events may be lessening as these new issuances become a smaller fraction of the total available Bitcoin.
Key Observations
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Diminishing Impact: The influence of halvings on Bitcoin's price is reducing over time as the effect of new Bitcoin issuance decreases in significance compared to activities by long-term holders.
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Whale Activity: Demand from large Bitcoin holders (whales) has surged, recording an 11% increase month-over-month – the highest ever.
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Permanent Holders: The acquisition of Bitcoin by permanent holders is now outpacing the rate of new Bitcoin being mined, indicating a robust demand-driven market.
Forward Outlook
The shift in dynamics suggests that demand factors, driven by both whales and long-term holders, are becoming increasingly pivotal compared to traditional supply cuts. See our real-time dashboard for all the demand trends.
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