Bitcoin supply absorption by various cohorts suggests impending halving event not fully priced in

Bitcoin supply absorption by various cohorts suggests impending halving event not fully priced in
фото показано с : cryptoslate.com

2023-10-26 16:45

Quick Take

A deep dive into Bitcoin’s issuance reveals a fascinating trend as the next Bitcoin halving event approaches.

The current monthly issuance of Bitcoin stands at 27,000 BTC, calculated from 900 Bitcoin mined each day over 30 days. An analysis of various cohorts, along with exchanges and miners, unveils a significant absorption of this supply.

Indeed, the balance of the 27,000 BTC is being consumed overwhelmingly. The past month’s data shows ‘Shrimps’ accumulating 25,000 BTC and ‘Crabs’ by 2,265 BTC,

‘Fish’ decreased by 3,000 BTC, ‘Sharks’ by 37,000 BTC, ‘Whales’ by 18,800 BTC, and ‘Super Whales’ by 11,140 BTC.

Meanwhile, exchanges saw a balance decrease of 9,136 BTC, seen as a bullish sign, and miners increased their balance by 3,075 BTC. In total, these cohorts absorbed roughly 103,000 BTC.

All cohorts: 30-day balance change: (Source: Glassnode)

With the impending halving event, the monthly Bitcoin supply will drop to 13,500 BTC. Assuming constant demand, this reduction in supply could trigger a bullish turn in the market—an event that may not yet be fully priced in.

All Balance Change vs Issuance: (Source: Glassnode)

The post Bitcoin supply absorption by various cohorts suggests impending halving event not fully priced in appeared first on CryptoSlate.

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

Bitcoin (BTC) на Currencies.ru

$ 62917.87 (+0.05%)
Объем 24H $25.322b
Изменеия 24h: 1.99 %, 7d: 5.23 %
Cегодня L: $62516.25 - H: $63319.2
Капитализация $1239.245b Rank 1
Цена в час новости $ 34680.47 (81.42%)

bitcoin event issuance halving stands monthly approaches

bitcoin event → Результатов: 126


Bitcoin Reward Halving Takes Care Of Scarcity, But What About Utility?

Scarcity and utility are twin engines of the potential for mass adoption of Bitcoin. But one is outstripping the other, and potentially interfering with its growth. As we approach bitcoin’s third block reward halving – an event that typically causes a run-up in BTC prices in anticipation of half as many Bitcoin being created every […] The post Bitcoin Reward Halving Takes Care Of Scarcity, But What About Utility? appeared first on Crypto Briefing.

2019-10-30 21:41


Australian Federal Police Take Hold of Artillery Dealer’s Bitcoin, Flip into Major Profits

Drug cartels and other criminal activities are mostly associated with Bitcoin trading. This is to raise funds to enhance their criminal activities. In the event, however, when the police confiscate $BTC from these illegal activities, where do they go? In Australia, for instance, it’s has been disclosed that in one scenario, the police collected a 20-fold […]

2019-10-25 00:21


Фото:

Bitcoin ‘Needs $100M Positive Interest Per Week’ To Keep $8K Price

Bitcoin must attract a giant $2. 88 billion in net positive demand if it is to keep its $8000 price in the run-up to the block size halving event. Demeester: Bitcoin Halving Run-Up Needs $2. 8B That was according to Adamant Capital founding partner and commentator Tuur Demeester, who this week offered an alternative perspective on Bitcoin’s short-term price potential.

2019-10-23 15:30


Dallas Fed Reserve President Weighs In On Releasing A Digital Currency As A Hedge For Dollar Value

Rob Kaplan, President of the Fed Reserve in Dallas, and a former executive at Goldman Sachs is the latest to come out in support of digital currency. This comes at a time when regulators are keenly looking into how cryptocurrencies like Bitcoin and Libra might disrupt the financial systems. While speaking at an event in […]

2019-10-17 18:43


BitMEX to Showcase Power of Bitcoin’s Lightning Network at Upcoming Crypto Conference

The Lightning Conference, an event focusing on the Bitcoin micro payments scaling solution, Lightning Network, has just announced a novel way to help showcase the power of the technology. The ever-important fuel of all crypto conferences, hot, steaming coffee, will be available for a single satoshi, paid via the Lightning Network, at the Berlin event.

2019-10-8 23:00


Фото:

Bithumb Announces Season 4 of Staging Event, 10 Million FZZ in Total Prizes

Bitcoin Press Release: Global digital asset platform Bithumb will be giving away 10 Million FZZ in Season 4 of it’s Staging Event. 1 Oct 2019, Seoul, Republic of Korea – Global digital asset platform Bithumb has announced the latest  season of it’s “BG Staging” event, which will take place from October 5th to October 7th, […] The post Bithumb Announces Season 4 of Staging Event, 10 Million FZZ in Total Prizes appeared first on Bitcoin PR Buzz.

2019-10-2 15:37