As Bitcoin gears up for its impending halving, the cryptocurrency market is witnessing a surge in demand that significantly outstrips the monthly supply of mined BTC. With only 27,000 BTC produced monthly, the revelation by Glassnode of an astounding 115,000 BTC accumulation in the last 30 days highlights a robust bullish sentiment. Notably, even Bitcoin’s smallest investors, termed ‘shrimps’, are contributing to this trend by amassing approximately 12,500 BTC, showcasing a heightened enthusiasm that could redefine market dynamics.

The forthcoming halving is poised to slash Bitcoin’s monthly issuance to 13,500 BTC, further tightening supply as the mining reward halves. This anticipated reduction, coupled with ongoing large-scale buying by investors from all echelons—including the colossal ‘super whales’—is setting the stage for a potentially explosive second quarter. As we approach the halving, the landscape of Bitcoin investment is transforming, suggesting a promising horizon for the leading cryptocurrency.

Glassnode