$7.28 Billion in Bitcoin Purchased in 48 Hours: Is a Major Supply Crunch Looming?
Bitcoin (BTC) whales are on a massive buying streak, coinciding with a sharp price surge during the ongoing bull run. On-chain analyst Ali Martinez revealed that whales have accumulated 70,000 BTC in the past 48 hours.
In a post on X, Martinez estimated the value of these purchases at $7.28 billion. With Bitcoin trading at $107,687, the total whale accumulation now exceeds $7.5 billion. This surge in whale demand is outpacing supply, driving prices higher and fueling concerns over a potential supply crunch.
A supply crunch occurs when increasing demand meets limited availability. Bitcoin's finite supply of 21 million BTC, combined with a daily mining output of just 450 BTC, creates a scarcity that amplifies its value. Over the past two days, only 900 BTC were mined—insufficient to satisfy the growing appetite of whale investors.
Could Scarcity Push Prices Higher?
Analysts believe the rising demand from whales and institutions, coupled with Bitcoin’s capped supply, could trigger significant price increases. As the market anticipates a supply crunch, traders may become hesitant to sell, further tightening supply.
Martinez suggests that the Bitcoin market is preparing for continued upward momentum due to reduced availability. Institutional players have also shown growing interest, adding to the already heightened demand for the world’s leading cryptocurrency.
However, the inherent volatility of the cryptocurrency market could shift the current dynamics. Macroeconomic factors driving the heightened demand for Bitcoin may evolve, potentially cooling the whales' appetite for further accumulation. The upcoming days will be critical in determining the direction of the market trend.
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