ChainCatcher message display, in November, the purchase volume of Bitcoin ETFs in the United States reached approximately 71,570 BTC, while the global Bitcoin mining output during the same period was only about 13,500 BTC. This purchase volume far exceeds the mining output, raising market concerns about supply and demand dynamics.

Firstly, the large purchases of ETFs may reflect investors' strong interest in Bitcoin, especially in traditional financial markets. Secondly, the significant gap between mining output and purchase volume may impact market prices, which investors should closely monitor.

This supply-demand imbalance may become an important factor influencing Bitcoin price fluctuations, and market participants need to remain vigilant.