This Bitcoin Halving May Not Result In Supply Squeeze: Glassnode
Summary
Glassnode suggests that the upcoming Bitcoin halving may not lead to the anticipated supply squeeze due to the presence of spot ETFs, which have introduced significant demand for the cryptocurrency. The report highlights that the ETFs' inflows have surpassed the amount of BTC miners introduce into circulation, indicating that the halving's impact on supply dynamics may be different from historical norms. However, it also notes that if the current inflow-heavy regime shifts to outflows, it could lead to extraordinary selling pressure. Additionally, Bitcoin's price has fluctuated, reaching $68,000 before declining back to around $64,200.
