Promise

2024

Bitcoin

Read

<ul>
 <li>Analysts suspect a massive Bitcoin (BTC) supply shock is coming.</li>
 <li>This is caused by the increased buying of BTC which is slowly emptying out exchanges.</li>
 <li>This move will soon lead to the next seismic Bitcoin (BTC) price surge.</li>
</ul>
<p>Bitcoin (BTC) has shifted into its <a href="https://cryptonewsland.com/bitcoin-price-enters-discovery-phase-as-btc-broke-71000-following-a-1-1-billion-bitcoin-btc-purchase-new-aths-ahead/" target="_blank" rel="noopener noreferrer nofollow">discovery phase</a> for the ongoing bull cycle. Having already surged past its previous ATH of $73,737, the asset is now in a <a href="https://cryptonewsland.com/crypto-analyst-marks-boring-sideways-movement-as-whale-accumulation-phase-trigger-to-super-cycle-imminent/" target="_blank" rel="noopener noreferrer nofollow">steady sideways movement</a> before it supasses this previous ATH again.</p>
<p>Most Bitcoin price analyst expect the slow sideways movement to carry out for mosnth possibly. However, the price of Bitcoin (BTC) could also surge at anytime depending on retail entry, market makers, and the sway of the market.&nbsp;</p>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">There are x2 more <a href="https://twitter.com/hashtag/BTC?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#BTC</a> being bought than produced since halving<br><br>Exchanges sitting at an all time low of BTC supply, means there are almost no more Bitcoin to buy, means price up<br><br>You can’t stop this wave of supply shock that is coming. Even MtGox wouldn’t change anything here..</p>— Doctor Profit <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f1e8-1f1ed.png" alt="🇨🇭" class="wp-smiley" style="height: 1em; max-height: 1em;"> (@DrProfitCrypto) <a href="https://twitter.com/DrProfitCrypto/status/1795872098360959247?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">May 29, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
 </div>
</figure>
<p>In particular, popular crypto analysts such as <a href="https://x.com/DrProfitCrypto" target="_blank" rel="noopener noreferrer nofollow">Doctor Profit</a>, known for his accurate predictions, notices an interesting supply observance. Specifically, Doctor Profit notes that Bitcoin (BTC) is being bought off of crypto exchanges at twice the speed it was being bought before the <a href="https://www.binance.com/en/events/bitcoin-halving" target="_blank" rel="noopener noreferrer nofollow">Bitcoin Halving</a> event.</p>
<p>Now, after the successful carrying out of the Bitcoin Halving event. Bitcoin holders are buying out Bitcoin (BTC) at twice the speed. This move leads the analyst to perceive that exchanges are sitting at an all time low of BTC supply. This means that there is almost no Bitcoin left to buy which in turn could likely result in massive BTC price spikes.</p>
<p>He ends his message saying there is no stopping this incredible Bitcoin (BTC) supply shock coming for the market. In accordance with the market, BTC price surging will certainly lead to altcoin prices surging as well.&nbsp;</p>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr"><img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f6a8.png" alt="🚨" class="wp-smiley" style="height: 1em; max-height: 1em;"> May 29 ETF Update <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f6a8.png" alt="🚨" class="wp-smiley" style="height: 1em; max-height: 1em;"><br><br>Total Net Inflows +419 <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Bitcoin</a> ($28.3m)<br><br>Highlights:<br>Blackrock + 364 BTC<br>Fidelity + 263 BTC<br>Bitwise + 163 BTC<br>GBTC – 462 BTC <a href="https://t.co/R7tS2kioiG" rel="noopener noreferrer nofollow">pic.twitter.com/R7tS2kioiG</a></p>— Thomas | heyapollo.com (@thomas_fahrer) <a href="https://twitter.com/thomas_fahrer/status/1796014380372369420?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">May 30, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
 </div>
</figure>
<p>As a side note, total net inflows for Bitcoin (BTC) ETFs have now surpassed $28,300,000. Of these numbers, BlackRock has secured over 364 BTC, Fidelity over 263 BTC, Bitwise over 163 BTC, and GBTC has over 462 BTC. Truly it will be exciting to see when the Bitcoin supply shock will come into play for the BTC price.</p>
<h4 class="wp-block-heading" id="h-read-also">Read Also</h4>
<ul class="wp-block-yoast-seo-related-links">
 <li><a href="https://cryptonewsland.com/btc-and-eth-2x-price-surge-could-clear-celsius-usd-claims/" rel="noopener noreferrer nofollow">BTC and ETH 2X Price Surge Could Clear Celsius’ USD Claims</a></li>
 <li><a href="https://cryptonewsland.com/bitboycrypto-arrested-after-shocking-lamborghini-heist-livestream/" rel="noopener noreferrer nofollow">BitBoyCrypto Arrested after Shocking Lamborghini Heist Livestream</a></li>
 <li><a href="https://cryptonewsland.com/bullish-bitcoin-promise-amidst-incoming-btc-supply-shock-could-trigger-grand-spike-for-altcoins/" rel="noopener noreferrer nofollow">Bullish Bitcoin Promise Amidst Incoming BTC Supply Shock Could Trigger Grand Spike for Altcoins</a></li>
 <li><a href="https://cryptonewsland.com/validator-robs-20m-from-mev-bot-shocks-ethereum-community/" rel="noopener noreferrer nofollow">Validator Robs $20M from MEV Bot, Shocks Ethereum Community</a></li>
 <li><a href="https://cryptonewsland.com/bitcoin-supply-shock-will-make-this-bull-run-the-biggest-so-far/" rel="noopener noreferrer nofollow">Bitcoin Supply Shock Will Make This Bull Run the Biggest So Far</a></li>
</ul>
<p>The post <a href="https://cryptonewsland.com/massive-btc-supply-shock-and-explosive-aths-incoming-as-bitcoin-btc-buying-2x-since-bitcoin-halving/" rel="noopener noreferrer nofollow">Massive BTC Supply Shock and Explosive ATHs Incoming as Bitcoin (BTC) Buying 2X Since Bitcoin Halving</a> appeared first on <a href="https://cryptonewsland.com" rel="noopener noreferrer nofollow">Crypto News Land</a>.</p>

Massive BTC Supply Shock and Explosive ATHs Incoming as Bitcoin (BTC) Buying 2X Since Bitcoin Halving

Crypto News Land

Other articles published on May 30, 2024

Ethereum ETFs — 3 pitches that could hook Wall Street

Vitalik Buterin donates 30 ETH to Tornado Cash legal defense

4 Cryptos That Could Hit New All-Time Highs in June 2024

Crypto Becomes U.S. Election Issue: Cathie Wood Explains Sudden SEC Approval of Ethereum ETFs

Analysts Discuss Bitcoin and Ethereum’s Dominance Over Altcoins

Stargate Finance (STG) Rocketed by 72%, Market Cap Adds $2M, What’s Up With STG?

Join our free newsletter for daily crypto updates!