According to CryptoQuant data, Bitcoin demand is growing rapidly, while seller liquidity has dropped to its lowest level since 2020, and market demand is exceeding supply. Since September 2024, monthly demand for Bitcoin has grown to 228,000 BTC, but the supply of Bitcoin available for sale has dropped significantly. These supply sources include crypto exchanges, over-the-counter trading platforms, miners and Grayscale Bitcoin Trust holdings Bitcoin

In addition, long-term investors are also actively entering the market. The holdings of Bitcoin "accumulation addresses" have reached a new high of 495,000 BTC per month. At the same time, the Bitcoin inventory on the over-the-counter (OTC) platform has decreased by 26,000 BTC since November 20. Since a further reduction of 40,000 BTC, the analysis team believes that the OTC platform mainly serves institutions and large buyers, reflecting that demand significantly exceeds supply.

As of now, the liquidity of Bitcoin sellers is only 33.97 million BTC, which has decreased by 678,000 BTC this year, further reducing the market selling pressure. In addition, the liquid inventory ratio (the number of months existing inventory can meet demand) has dropped from 41 months in October to 6.6 months, indicating that the Bitcoin market demand is growing rapidly, while supply and liquidity have significantly shrunk.