@marone
Bitcoin’s halving historically drives supply shocks, but this cycle adds a new twist: spot ETF-driven demand. With miners adjusting to reduced rewards and institutional investors steadily increasing allocations, supply dynamics favor long-term holders. However, macro headwinds like interest rate fluctuations and regulatory pressures still influence price discovery. On-chain analytics show unprecedented levels of BTC illiquidity, signaling conviction among holders. For traders, volatility is an opportunity; for builders, it is a reminder that Bitcoin’s narrative as a store of value strengthens over time. True adoption comes when BTC is seamlessly integrated into payments and financial rails.
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