-Remember $100 bottles of Prime Hydration in 2022?
-Or those $10 toilet paper rolls in 2020? đ§»
-What about $20 PokĂ©mon Jungle Booster Packs back in 2000? đ
What do these all have in common? Supply constraints = inflated prices
And guess what? Bitcoin is heading down a similar path... Hereâs whatâs brewing:
1ïžâŁ $BTC balance on exchanges is at a 12-month low â fewer coins available for buying.
2ïžâŁ Long-term holders who sold during the March top are quietly reaccumulating.
3ïžâŁ Miners are hoarding $BTC for the first time in a year â yep, even the miners are stacking sats.
All this means people have been buying and holding $BTC, while the available supply on exchanges has been shrinking... đ
Increased demand + decreased supply = price go up đ„ (Thatâs how the math works, right?)
But wait â why is Bitcoin still hovering around the low $60Ks? đ€
Well, this accumulation has been happening over time, with sellers still outpacing buyers, keeping the price in check.
Smart money has been sneakily buying $BTC in small chunks over time, ensuring they grab up lots of Bitcoin without triggering a price pump. đ§
But hereâs the twist: those weak hands are drying up, and so is the sell pressure. Combine that with a massive $15B+ of short liquidations sitting just above the current price, and if/when Bitcoin hits ~$75K, short sellers will be forced to buy back $15B+ worth of BTC to cover their loans on Binance alone. đ„
Oh, and letâs not forget yesterdayâs rate cut announcement, pushing fresh cash into the market.
All signs point to one thing: Bitcoin could be headed for a classic supply squeeze price pump.
Think COVID-era toilet paper panic, but this time, itâs Bitcoin. đȘ