While Bitcoin is flirting with the $110,000 mark, new data shows whale supply has dropped to its lowest point since 2019, signaling a wave of profit-taking that could threaten the rally’s momentum.
The alignment of the planets continues. While the United States wants to accumulate "as many bitcoins as possible," the global money supply is climbing again.
As the wind of the resumption of its upward momentum continues to make people happy, there is already interesting news about bitcoin (BTC). According to some experts, we are heading straight towards a supply shortage of the flagship crypto. A possibility that would not be without consequences for the broader crypto market.
We know that Bitcoin (BTC) reacts in the long term to profitability levels. That is to say, if the production cost is too high compared to the price of Bitcoin, it would not be sustainable. Therefore, studying the supply is crucial as it explains the behavior and, hopefully, the future of the cryptocurrency market.