Bitfinex Estimates BTC Demand Will Be ~5X Greater than Supply, Being Affected by Present Halving
April 23, 2024
According to Bitfinex, the amount of new BTC supply on the market could drop to as low as $30 million per day.
As most global traders and investors know by now, last Saturday, April 20, the reward paid to miners per block was halved from 6.25 BTC to 3.125 BTC. According to Bitfinex, the reward halving means the total number of new tokens added to the supply each day could drop to a face value of $30 million.
The meticulously calculated estimate represents a significant drop, namely, approximately 5 times less than the average daily demand for U.S. spot ETFs. Average daily net inflows into spot Bitcoin ETFs far exceed that, at over $150 million, although inflows have slowed in recent weeks and even turned net negative.
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