: ETFs have accumulated over 600,000 BTC , roughly equivalent to 100% of the new supply issued since the 2024 halving.
: With over 95% of all Bitcoin already mined , these large-scale "non-circulating" inventories are creating a supply-demand mismatch that historically leads to rapid price appreciation. 3. Favorable Macroeconomic "Risk-On" Shift : ETFs have accumulated over 600,000 BTC ,
: Following the establishment of a U.S. Federal Strategic Bitcoin Reserve, individual states like Texas and New Hampshire have launched their own reserves, signaling a shift toward state-level adoption. : ETFs have accumulated over 600
: This consistent institutional buying is acting as a "price anchor," offsetting selling pressure from long-term holders and creating a persistent bid in the spot market. 2. Aggressive Corporate and Strategic Accumulation : ETFs have accumulated over 600,000 BTC ,
