**Bitcoin ETF Frenzy Outpaces Mining Supply**

December 2024 saw a surge in Bitcoin demand as US spot Bitcoin ETFs amassed around 51,500 BTC, nearly triple the 13,850 coins mined that month. This ETF-driven demand pushed Bitcoin prices to an all-time high of $108,135 on Dec. 17. Analysts highlight a supply-demand imbalance, with exchange balances hitting new lows, signaling a potential supply shock.

On the mining front, Marathon Digital led with 9,457 BTC produced in December. Other miners like Riot and Cleanspark also reported increases, but overall production couldn't match the ETF appetite. The trend continues into January with significant ETF inflows.