Bitcoin ETFs have increased holdings by purchasing 51,500 BTC, surpassing mined bitcoins during the same period.
BTC ETF Accumulation
According to data from Apollo and BiTBO, exchange-traded funds tracking bitcoin totaled 51,500 BTC. Meanwhile, only about 13,850 Bitcoins were added to the circulating supply.
Significant Price Surge
This high demand contributed to an all-time high of $108,135. Donald Trump's election victory attracted investors, driving up prices.
There’s not enough supply available at current prices to satisfy demand.Jesse Myers
Market Supply Shortage
The crypto market faced a supply shock as exchange balances hit new lows. Furthermore, ETFs continued their buying spree in January, with near $1 billion acquired.
The market is seeing a supply shock.crypto researcher Vivek
ETFs continue to significantly impact the market, indicating a need for restoring demand-supply equilibrium.
