๐Bitcoin Halving Impact: Less Boom, More Room for Demand๐
CryptoQuant's latest report suggests the impact of Bitcoin halvings on BTC value is shrinking. Why? The new BTC issuance is getting tinier compared to the amount sold by long-term hodlers.๐
Before the 1st, 2nd, and 3rd halvings, BTC issuance was 69%, 27%, and 10% of the available supply. Now, it's just 4%. Last year, 28,000 BTC were issued monthly, dwarfed by the 417,000 BTC sold by long-term hodlers.๐ผ
For the first time ever, demand from permanent BTC hodlers has outpaced issuance. They're adding about 200,000 BTC to their stash monthly, way more than the 28,000 BTC issued.๐ฅ
Post-April 20 halving, monthly issuance will drop to around 14,000. So, demand growth will be the new price driver.๐
In the past, post-halving price rallies were fueled by demand growth from big hodlers and whales. With current demand growth at an all-time high of 11% MoM, it's clear this is the main catalyst behind BTC surges.๐ณ
What do you think? Will demand continue to drive BTC price post-halving? Share your thoughts below!๐ #BitcoinHalving #CryptoQuant #BTC