Over the past 30 days, ETFs have purchased 272,000 bitcoins, while only 25,200 were mined during the same period. This rapid buying spree cannot be sustained due to bitcoin’s limited supply. If this pace continues or increases, the over 2 million bitcoins currently on exchanges could vanish within 8 months.
The upcoming bitcoin halving in just 3 months will cut the new mined supply to 12,600 coins over the next 30 days. Real fear of missing out has not yet kicked in among investors. However, when people realize how quickly exchange liquidity and remaining supply are drying up, bitcoin prices could surge sharply.
The market seems complacent despite these bullish dynamics, as bitcoin continues to look scarce against the backdrop of unrelenting new demand from ETF products. As the bitcoin halving approaches and miners produce fewer new coins, ETFs and other buyers will chase an even more limited supply, requiring prices to rise to entice reluctant long-term holders to sell.
