![]() ![]() This unique scenario sets the stage for the halving event, with potential implications for bitcoin's value.īitcoin's upcoming halving event aligns with a distinct shift in global financial strategies. The convergence of various metrics indicates that 'available supply' is at an all-time low, while 'supply storage' rates are significantly higher than issuance rates. The fourth halving is more than just a technical event it's a fundamental shift that intrigues investors, given the historical return profile in prior cycles. ![]() This approach reveals that in bear markets, smaller capital inflows or outflows can lead to significant market impacts, a consequence of the current supply dynamics. The rate of stored supply currently surpasses new bitcoin issuance, with Illiquid Supply increasing at a rate 2.2 times higher than new issuance.Ĭapital flows are assessed using realized cap as a proxy, a method detailed by Glassnode. There's a clear trend of declining 'available supply' and a marked increase in 'stored supply.' This includes Long-Term Holder Supply, Illiquid Supply, and Vaulted Supply. Bitcoin: Liquid and Illiquid Supply glassnode ![]()
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