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Bitcoin ETFs Demand Surpasses Cryptocurrency Mining Yield

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by Giorgi Kostiuk

10 months ago

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.

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