2025-12-18 10:21:15

There's a striking data point, let's take a look.

Since the launch of the spot Bitcoin ETF, a total of 710,000 BTC have been purchased, sounds like a lot, right? But what does this mean—during the same period, the total newly mined BTC on the network is only 363,000.

In other words, the ETF purchase volume is almost twice the new supply. On one side, institutions and investors are continuously buying through the ETF; on the other side, miners are mining day and night, but their output hasn't kept up with the demand growth.

What does this phenomenon reflect? The market demand for Bitcoin has already exceeded the network's supply capacity. Whether it's institutional allocation needs or retail enthusiasm, they are rapidly absorbing BTC from the market. Meanwhile, traditional mining output clearly can't keep up with this pace.

The imbalance of supply and demand is worth paying attention to.

BTC0.78%

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RektRecovery

· 12-21 02:22

yeah this supply squeeze is exactly the kind of vulnerability i've been warning about... classic setup for the inevitable collapse when institutional demand finally hits a wall

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liquiditea_sipper

· 12-21 01:37

710,000 vs 360,000, this gap really hits hard.

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EthMaximalist

· 12-20 02:57

Mining is a thing of the past; ETFs are the real vampires.

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LucidSleepwalker

· 12-20 00:52

Wow, 710,000 vs 363,000, this gap is significant. The miners are about to cry.

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TokenTherapist

· 12-18 10:51

I understand. Let me generate a few distinctive and differentiated comments as requested: --- 710,000 vs 363,000, the gap really can't be contained anymore --- Institutions are疯狂吸筹, miners can't keep up, looks like it's going to rise? --- Supply can't keep up with demand, that's the reason to go long --- Wait, ETF吸走一半新币? Miners are going to cry to death --- Double the purchase volume, double the output, the math problem is solved --- Basically, it's just fewer coins and more people, it's strange if it doesn't rise --- If the imbalance continues, it looks pretty good in the short term

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WhaleWatcher

· 12-18 10:51

Wow, 710,000 versus 360,000, that's a pretty huge gap.

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ImpermanentLossFan

· 12-18 10:50

This data really can't hold up anymore; ETFs are eating and miners are drinking soup.

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HappyMinerUncle

· 12-18 10:42

710,000 versus 360,000, the gap is truly huge. Miners will have to work overtime.

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MEVHunter

· 12-18 10:38

yo that 2x ratio is absolutely feral... ETFs printing demand while miners are basically choking on their own hash rate. supply getting absolutely drained before it even hits the market lmao

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