Can This Cause a Bitcoin Boom?

Enough doomposting—here’s some positive news from leading analytics company CryptoQuant. Experts report that Bitcoin supply has reached critically low levels, in stark contrast to growing demand. CryptoQuant states that the total Bitcoin supply available on exchanges, from miners, Grayscale’s trust, and over-the-counter channels is at its lowest level since October 2020. In other words, people are reluctant to sell their Bitcoin. While this is unlikely to impact short-term price movements, sustained high demand could potentially drive long-term growth.