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Wednesday, January 31, 2024
Today's Top #1: 3 Signs That A Bitcoin Supply Shock Could Be Just Days Away
tldr; The Bitcoin community is discussing a potential supply shock due to demand outstripping supply, which could lead to a price increase. Three signs indicate this event may be near: 1) Bitcoin ETFs are showing high demand, buying at a rate much higher than the daily BTC issuance. 2) Analysts predict that once Bitcoin reaches $60k, institutional FOMO will trigger a significant market shift. 3) Despite large coin flows from miners to exchanges, the market has absorbed the selling pressure. Additionally, a rise in stablecoin reserves suggests more funds could flow into Bitcoin, influencing supply/demand dynamics.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
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