10xResearch: Bitcoin prices are driven by demand rather than mining, highlighting the increasing integration of Bitcoin with traditional finance

ChainCatcher news, 10xResearch posted on social media that, contrary to popular belief, it believes that the price of Bitcoin is driven by demand rather than changes in the supply of BTC itself (mining).

Each cycle of Bitcoin's five bull markets has been driven by innovations in how investors acquire it, from the creation of early spot trading platforms to the use of contracts, unsecured loans, spot Bitcoin ETFs, and now options on these ETFs.

This development highlights the increasing integration of Bitcoin with traditional financial markets, and the regulatory approvals from U.S. agencies such as the CFTC and SEC have accelerated this trend, as these agencies have legalized Bitcoin-related financial products over time.