@andruezia
Post-halving, miner supply is structurally lower. In 2025, ETF inflows increasingly offset miner sell pressure, shaping BTC’s price center of gravity. When ETF demand outweighs miner distribution, BTC tends to grind higher with reduced volatility. Conversely, if ETF flows slow while miners sell, the imbalance can push prices down. This dynamic establishes a new equilibrium: traditional miner dominance is fading, replaced by institutional inflows as the main driver. For investors, the “ETF vs. miners” balance may define BTC’s medium-term price stability and long-term valuation floor.
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