Bitfinex Analyst: After Bitcoin Halving, Supply Will Be One-Fifth of Demand

ChainCatcher news, according to CoinDesk, analysts at the cryptocurrency exchange Bitfinex expect that the daily supply of newly minted Bitcoin (BTC) may drop to $30 million following the recent Bitcoin block reward halving. This figure is about one-fifth of the average daily inflow of spot ETFs.

Analysts pointed out that as the daily issuance declines after the halving, the new market supply (newly mined BTC) is expected to decrease from the current $40-50 million to $30 million per day. In contrast, although net inflows into Bitcoin spot ETFs have slowed down in recent weeks and even turned into net outflows, their average daily net inflow still exceeds $150 million.

Additionally, on-chain data shows that investors are increasingly holding their Bitcoin directly, which weakens the supply side of the market. Bitfinex analysts stated that outflows from Bitcoin exchanges have reached their highest level since January 2023, indicating that many investors are anticipating price increases and are moving their holdings to cold wallets.

Currently, the trading price of Bitcoin is $66,660, having risen over 5% since the halving, contrary to market expectations of a price correction.