According to the latest data from CryptoQuant, Bitcoin demand is rapidly growing, while seller liquidity has fallen to its lowest level since 2020.

Since September 2024, monthly Bitcoin demand has grown to 228,000 BTC, but the supply of Bitcoin available for sale has significantly decreased, with these supply sources including crypto exchanges, over-the-counter trading platforms, miners, and Bitcoin held by Grayscale Bitcoin Trust.

Long-term investors are also actively entering the market, with the holdings of Bitcoin in 'accumulation addresses' reaching a new monthly high of 495,000 BTC. At the same time, Bitcoin inventory on over-the-counter (OTC) platforms has decreased by 26,000 BTC, further reducing by 40,000 BTC since November 20.

This reflects that demand significantly exceeds supply, especially with a surge in demand for Bitcoin from institutions and large buyers.

As of now, Bitcoin seller liquidity is only 33.97 million BTC, having decreased by 678,000 coins this year, further reducing market selling pressure.

The liquidity inventory ratio (the number of months current inventory can meet demand) has fallen from 41 months in October to 6.6 months, indicating that Bitcoin market demand is rapidly growing, while supply and liquidity are clearly shrinking.

The Bitcoin market is facing an imbalance between supply and demand, with a surge in demand and a decline in supply, which could drive Bitcoin prices further up. ##比特币市场波动观察 $BTC