Skyrocketing

Bitcoin

when

Mode

James

<p>The demand for Bitcoin is booming, to the point of causing serious problems. Indeed, investors are rushing to this flagship crypto, far exceeding miners’ production. While some fear a bubble, the data shows a clear trend: investors are accumulating Bitcoin at a frenzied pace. In this context, it is essential to understand what is really happening in the market and why investors are buying five times more than what miners produce.</p>
<h2 id="h-investors-hungry-for-bitcoin">Investors Hungry for Bitcoin</h2>
<p>For the past few weeks, bitcoin, whose <a href="https://www.cointribune.com/en/bitcoin-demand-is-weakening-but-holders-remain-optimistic/" target="_blank" rel="noopener noreferrer nofollow">demand is weakening</a> according to some analysts, has become the star of cryptocurrencies, or rather the fairground attraction that everyone wants. And for good reason, <strong>investors are buying bitcoin at a dizzying pace</strong>, five times higher than miners’ production.&nbsp;</p>
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<p>A figure that could well make even the most daring speculators dizzy. When you know that <strong>miners could only produce <a href="https://x.com/jvs_btc/status/1826248898337456571" target="_blank" rel="noopener noreferrer nofollow">14,000 BTC in the last month</a></strong>, you wonder where investors find their bitcoins!&nbsp;</p>
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     <p lang="en" dir="ltr">The previous post was when <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Bitcoin</a> was in the low 50ks, coming off the 1:1 global sell-off. <br><br>It's pretty much on cue with the trend. <br><br>All cohorts on aggregate (70k <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Bitcoin</a>) are now accumulating 5x the monthly issuance (14k BTC). <br><br>Big Demand at those price levels. <a href="https://t.co/jNxPCQMfNv" rel="noopener noreferrer nofollow">https://t.co/jNxPCQMfNv</a> <a href="https://t.co/12p0f7NPqD" rel="noopener noreferrer nofollow">pic.twitter.com/12p0f7NPqD</a></p>— James Van Straten (@jvs_btc) <a href="https://twitter.com/jvs_btc/status/1826248898337456571?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">August 21, 2024</a>
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<p>One thing’s for sure, they didn’t buy their coins in the flower market.</p>
<ul>
 <li>14,000 BTC: monthly miners’ production;</li>
 <li>70,000 BTC: net investor purchases in the same period.</li>
</ul>
<p>The phenomenon is partly explained by <strong>an exclusion of wallets related to centralized crypto exchanges (CEX)</strong>. In other words, investors are jealously keeping their bitcoins, away from selling platforms, thus intensifying buying pressure.&nbsp;</p>
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<p>But be careful, such a frenzy could well end up burning the wings of those who take the risk.</p>
<h2 id="h-the-crypto-market-in-accumulation-mode">The Crypto Market in Accumulation Mode</h2>
<p><strong>The bitcoin frenzy is not limited to just a few whales.</strong> All types of investors, from modest shrimps to giant cetaceans, have participated in this massive accumulation. The million-satoshi question: why now? In July, investors were fleeing bitcoin like the plague, preferring to sell rather than fill their pockets.&nbsp;</p> 
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  <script type="text/javascript" src="https://s3.tradingview.com/external-embedding/embed-widget-mini-symbol-overview.js" async>{"symbol":"BINANCE:BTCUSD","width":350,"height":220,"isTransparent":false,"autosize":false,"dateRange":"12M","trendLineColor":"rgba(253,64,19,1)","underLineColor":"rgba(253,64,19,0.6)","underLineBottomColor":"rgba(253,64,19,0)","locale":"en","largeChartUrl":false,"colorTheme":"light"}</script>
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<p>Yet today, the trend has reversed. The situation is so tense that some wonder <strong>how long this accumulation can last</strong> before the market turns again.</p>
<p>“<em>Investors have changed their strategy, and the crypto market is boiling</em>“, explained a recent analyst.&nbsp;</p>
<p><strong>Bitcoin has thus become the forbidden fruit that everyone wants to bite into</strong>. But for how much longer? Market bettors are wondering whether this accumulation is just a flash in the pan or if it hides something deeper.</p>
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<p>For more information <a href="https://www.cointribune.com/sur-la-question-de-loffre-de-bitcoin-btc/" rel="noopener noreferrer nofollow">on the issue of Bitcoin supply</a><a href="https://www.cointribune.com/sur-la-question-de-loffre-de-bitcoin-btc/" target="_blank" rel="noopener noreferrer nofollow"> and market trends</a>, you can check out this detailed article on the subject for ample explanations.</p>

Bitcoin: Demand is Skyrocketing and Surpassing Miners’ Production

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