As we navigate closer to the halving, the influence of new bitcoins mined and released into circulation is becoming less significant compared to the burgeoning demand from ETFs.
However, the current market conditions differ from historical norms. As we navigate closer to the halving, the influence of new bitcoins mined and released into circulation is becoming less significant compared to the burgeoning demand from ETFs. As shown in a Glassnode chart below, the ETFs are removing from the market several times the quantity of Bitcoin being minted each day.