- Since the dawn of 2024, the elusive Bitcoin supply has dwindled by a staggering 20-30% across exchanges and OTC desks, as if it were a magician’s trick gone awry.
- Analysts, those wise sages of the financial realm, have foretold that the swelling tides of global liquidity might just propel BTC to heights unknown.
Ah, Bitcoin [BTC], that fickle friend, has managed to cling to the lofty heights of $100K for nearly four weeks. Yet, one must ponder: is this explosive ascent merely the calm before a tempestuous supply crunch? 🌪️
With a frenzy of FOMO and an insatiable demand from corporate treasuries, one cannot help but wonder if the supply can keep pace with such ravenous appetites. 🍽️
The Bitcoin Supply Crunch: A Tale of Woe
In the bustling exchanges, where the common folk trade, BTC reserves have plummeted over 21%, from a robust 3.2 million to a mere 2.5 million BTC since the dawn of 2024. It’s as if the coins have sprouted wings and flown away! 🕊️
Curiously, this prolonged decline has coincided with the grand debut of the U.S. spot BTC ETF. Meanwhile, the OTC (Over-The-Counter) desks, those secretive sanctuaries for institutions, have also reported a steady decline in their reserves.
During this same period, the OTC BTC balance has nosedived from over 211K BTC to a mere 135K BTC—a staggering 36% drop, far steeper than the exchange reserves. It’s a veritable rollercoaster of numbers! 🎢
This relentless drop in supply could be seen as a bullish catalyst, especially with copycat strategies jumping on the BTC bandwagon like it’s the latest fashion trend. 🕶️
However, let us not forget that these figures—the OTC balance and exchange reserves—are as fickle as the wind and could very well receive new BTC inflows from eager sellers looking to cash in.
Moreover, the swelling global liquidity could serve as another pivotal catalyst for this asset. Jamie Coutts, the Chief Crypto Analyst at Real Vision, has proclaimed that BTC could explode if liquidity continues to rise. 💥
“While Bitcoin’s sensitivity to GLI moderates over time, for every extra 1% of liquidity added to the system, we should expect to see a >20% move in the price in Bitcoin.”
Coutts has pointed out that the global liquidity index (GLI) surged by 2% in Q2, possibly influencing the remarkable 40% recovery of BTC. It’s like watching a phoenix rise from the ashes! 🔥
This liquidity-driven theory has found support from Bitwise’s Andre Dragosch, who noted that the global money supply has reached a three-year high, potentially fueling the BTC price further. 🚀
As for the price outlook, Polymarket betters have placed their highest odds (76%) on the $120K level. Other ambitious 2025 price targets include $130K and $150K, with a 56% and 36% chance, respectively. It’s a veritable guessing game! 🎲
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2025-06-13 01:16