{"id":603688,"date":"2024-04-17T17:00:31","date_gmt":"2024-04-17T17:00:31","guid":{"rendered":"https:\/\/ktsl888.com\/?p=603688"},"modified":"2024-06-11T06:58:30","modified_gmt":"2024-06-11T06:58:30","slug":"crypto-exchanges-bitcoin-supply","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/crypto-exchanges-bitcoin-supply\/","title":{"rendered":"Crypto Exchanges Bitcoin Supply Can Only Last For 9 Months, ByBit Report"},"content":{"rendered":"

Cryptocurrency exchange and trading platform, <\/span>Bybit<\/span><\/a> has released a new report highlighting the impacts of the <\/span>upcoming Bitcoin halving event<\/span><\/a> on the supply dynamics of Bitcoin within exchanges in the crypto space. The crypto firm has provided valuable insights on how the halving event would enhance scarcity and considerably <\/span>influence the price of BTC.\u00a0<\/span><\/a><\/p>\n

Exchanges Set To Face Bitcoin Supply Crunch<\/h2>\n

On Tuesday, April 16, Bybit published a new <\/span>report<\/span><\/a>, providing a detailed analysis of the Bitcoin halving event set to take place this month. The crypto firm disclosed that the Bitcoin reserves within the world\u2019s crypto exchanges have been <\/span>depleting at a rapid pace<\/span><\/a>, leaving only nine months of BTC supply left on exchanges.\u00a0<\/span><\/p>\n

Related Reading: Arbitrum\u2019s Massive $107 Million Token Unlock Threatens To Send Price Below $1<\/a><\/div>\n

For a clearer perspective, Bybit explains that with just two million Bitcoin left in its total supply, a daily influx of $500 million into <\/span>Spot Bitcoin ETFs<\/span><\/a> would result in approximately 7,142 BTC leaving exchanges daily. This suggests that it would take only nine months to completely consume all of the remaining <\/span>BTC reserves on exchanges.<\/span><\/a>\u00a0<\/span><\/p>\n

Bybit has stated that a major contributor to this <\/span>supply squeeze<\/span><\/a> would be the upcoming Bitcoin halving event, which would reduce the cryptocurrency\u2019s total supply by 50% by cutting <\/span>Bitcoin miners\u2019<\/span><\/a> rewards in half.\u00a0<\/span><\/p>\n

The crypto exchange has also disclosed that after the halving event, the sell-side supply of BTC flowing into <\/span>Centralized Exchanges (CEXs)<\/span><\/a> will become grossly reduced. Additionally, Bitcoin\u2019s \u201csupply squeeze will ostensibly be worse.\u201d<\/span><\/p>\n

BTC To Become \u201cTwice As Rare As Gold\u201d<\/h2>\n

In its report, Bybit compared <\/span>Bitcoin\u2019s supply<\/span><\/a> after the halving event with that of gold. The crypto exchange revealed that Bitcoin was steadily growing to become one of the safest investment choices, even for the most seasoned and <\/span>sophisticated investors<\/span><\/a> within the crypto space.\u00a0<\/span><\/p>\n

According to the exchange, the <\/span>Bitcoin halving event<\/span><\/a> would significantly impact the cryptocurrency\u2019s <\/span>scarcity factor<\/span><\/a>, making it an even rarer asset than gold.\u00a0<\/span><\/p>\n

Basing this analysis on the Stock-to-Flow (S2F) ratio, Bybit disclosed that Bitcoin\u2019s S2F ratio is around 56 currently, while gold\u2019s ratio is 60. <\/span>After the halving event this April<\/span><\/a>, Bitcoin\u2019s S2F ratio is projected to increase to 112.\u00a0<\/span><\/p>\n

Related Reading: Arkham Releases Top 5 Crypto Rich List \u2013 You Won\u2019t Believe How Much Is Inaccessible<\/a><\/div>\n

\u201cEach Bitcoin halving sharpens the narrative of Bitcoin as not just a currency, but a scarce digital asset, akin to digital gold. This upcoming halving in 2024 will thrust BTC into an era of unprecedented scarcity, making it twice as rare as gold,\u201d the Co-founder and CEO of Bybit, Ben Zhou stated.\u00a0<\/span><\/p>\n

While highlighting the significance of <\/span>Bitcoin\u2019s rarity<\/span><\/a> following the halving event, <\/span>another report <\/span><\/a>also disclosed that the price of Bitcoin would experience significant upward pressure post-halving. This suggests that BTC’S supply squeeze could potentially propel its price to new heights during this period.\u00a0<\/span><\/p>\n

Furthermore, the report revealed that several crypto analysts predict that the <\/span>post-halving increase in Bitcoin\u2019s price<\/span><\/a> would be less remarkable than the early pre-halving surge which saw the price of Bitcoin <\/span>hitting new all-time highs<\/span><\/a> of more than $73,000.<\/span><\/p>\n

\"Bitcoin<\/p>\n

BTC price drops below $63,000 | Source: BTCUSD on Tradingview.com<\/a><\/pre>\n
Featured image from Analytics Vidhya, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"
Cryptocurrency exchange and trading platform, Bybit has released a new report highlighting the impacts of the upcoming Bitcoin halving event on the supply dynamics of Bitcoin within exchanges in the crypto space. The crypto firm has provided valuable insights on how the halving event would enhance scarcity and considerably influence the price of BTC.\u00a0 Exchanges Set To Face Bitcoin Supply Crunch On Tuesday, April 16, Bybit published a new report, providing a detailed analysis of the Bitcoin halving event set to take place this month. The crypto firm disclosed that the Bitcoin reserves within the world\u2019s crypto exchanges have been depleting at a rapid pace, leaving only nine months of BTC supply left on exchanges.\u00a0 Related Reading: Arbitrum\u2019s Massive $107 Million Token Unlock Threatens To Send Price Below $1 For a clearer perspective, Bybit explains that with just two million Bitcoin left in its total supply, a daily influx of $500 million into Spot Bitcoin ETFs would result in approximately 7,142 BTC leaving exchanges daily. This suggests that it would take only nine months to completely consume all of the remaining BTC reserves on exchanges.\u00a0 Bybit has stated that a major contributor to this supply squeeze would be the upcoming Bitcoin halving event, which would reduce the cryptocurrency\u2019s total supply by 50% by cutting Bitcoin miners\u2019 rewards in half.\u00a0 The crypto exchange has also disclosed that after the halving event, the sell-side supply of BTC flowing into Centralized Exchanges (CEXs) will become grossly reduced. Additionally, Bitcoin\u2019s \u201csupply squeeze will ostensibly be worse.\u201d BTC To Become \u201cTwice As Rare As Gold\u201d In its report, Bybit compared Bitcoin\u2019s supply after the halving event with that of gold. The crypto exchange revealed that Bitcoin was steadily growing to become one of the safest investment choices, even for the most seasoned and sophisticated investors within the crypto space.\u00a0 According to the exchange, the Bitcoin halving event would significantly impact the cryptocurrency\u2019s scarcity factor, making it an even rarer asset than gold.\u00a0 Basing this analysis on the Stock-to-Flow (S2F) ratio, Bybit disclosed that Bitcoin\u2019s S2F ratio is around 56 currently, while gold\u2019s ratio is 60. After the halving event this April, Bitcoin\u2019s S2F ratio is projected to increase to 112.\u00a0 Related Reading: Arkham Releases Top 5 Crypto Rich List \u2013 You Won\u2019t Believe How Much Is Inaccessible \u201cEach Bitcoin halving sharpens the narrative of Bitcoin as not just a currency, but a scarce digital asset, akin to digital gold. This upcoming halving in 2024 will thrust BTC into an era of unprecedented scarcity, making it twice as rare as gold,\u201d the Co-founder and CEO of Bybit, Ben Zhou stated.\u00a0 While highlighting the significance of Bitcoin\u2019s rarity following the halving event, another report also disclosed that the price of Bitcoin would experience significant upward pressure post-halving. This suggests that BTC’S supply squeeze could potentially propel its price to new heights during this period.\u00a0 Furthermore, the report revealed that several crypto analysts predict that the post-halving increase in Bitcoin\u2019s price would be less remarkable than the early pre-halving surge which saw the price of Bitcoin hitting new all-time highs of more than $73,000. BTC price drops below $63,000 | Source: BTCUSD on Tradingview.com Featured image from Analytics Vidhya, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":603707,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,8856,92107,656,679,1119,89185,1122,1144,78790,8080,92106],"class_list":["post-603688","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-halving","tag-bitcoin-halving-news","tag-bitcoin-news","tag-bitcoin-price","tag-btc","tag-btc-news","tag-btc-price","tag-btcusd","tag-btcusdt","tag-halving","tag-halving-news"],"acf":[],"yoast_head":"\nCrypto Exchanges Bitcoin Supply Can Only Last For 9 Months, ByBit Report<\/title>\n<meta name=\"description\" content=\"Bybit has released a new report highlighting 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Matherson","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ktsl888.com\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/3d21ae3d2529ce2df4466b61ea80b449?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/3d21ae3d2529ce2df4466b61ea80b449?s=96&d=mm&r=g","caption":"Scott Matherson"},"description":"Scott Matherson is a prominent crypto writer at NewsBTC with a knack for capturing the pulse of the market, covering pivotal shifts, technological advancements, and regulatory changes with precision. Having witnessed the evolving landscape of the crypto world firsthand, Scott is able to dissect complex crypto topics and present them in an accessible and engaging manner. Scott's dedication to clarity and accuracy has made him an indispensable asset, helping to demystify the complex world of cryptocurrency for countless readers. Scott\u2019s experience spans a number of industries outside of crypto including banking and investment. He has brought his vast experience from these industries into crypto, which allows him to understand even the most complex topics and break them down in a way that is easy for readers from all works of life to understand. Scott\u2019s pieces have helped to break down cryptocurrency processes and how they work, as well as the underlying groundbreaking technology that makes them so important to everyday life. With years of experience in the crypto market, Scott began to focus on his true passion: writing. During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others. Scott\u2019s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott\u2019s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry. Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors. In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else. Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies. Scott stands steady in the frontlines of the crypto revolution and is committed to helping to shape a future that promotes the development of technology in an ethical manner that translates to the benefit of all in the society.","sameAs":["https:\/\/x.com\/https:\/\/twitter.com\/MathersonScott"],"url":"https:\/\/ktsl888.com\/author\/mathersonscott1\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Crypto Exchanges Bitcoin Supply Can Only Last For 9 Months, ByBit Report","url":"http:\/\/ktsl888.com\/news\/crypto-exchanges-bitcoin-supply\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/ktsl888.com\/news\/crypto-exchanges-bitcoin-supply\/"},"thumbnailUrl":"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/04\/Bitcoin_0c2206.jpeg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/04\/Bitcoin_0c2206.jpeg?fit=1200%2C627"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Scott Matherson"}],"creator":["Scott Matherson"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/ktsl888.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","bitcoin halving","bitcoin halving news","bitcoin news","bitcoin price","btc","btc news","btc price","btcusd","btcusdt","halving","halving news"],"dateCreated":"2024-04-17T17:00:31Z","datePublished":"2024-04-17T17:00:31Z","dateModified":"2024-06-11T06:58:30Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Crypto Exchanges Bitcoin Supply Can Only Last For 9 Months, ByBit Report\",\"url\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/crypto-exchanges-bitcoin-supply\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/crypto-exchanges-bitcoin-supply\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2024\\\/04\\\/Bitcoin_0c2206.jpeg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2024\\\/04\\\/Bitcoin_0c2206.jpeg?fit=1200%2C627\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Scott Matherson\"}],\"creator\":[\"Scott Matherson\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"bitcoin halving\",\"bitcoin halving news\",\"bitcoin news\",\"bitcoin price\",\"btc\",\"btc news\",\"btc price\",\"btcusd\",\"btcusdt\",\"halving\",\"halving news\"],\"dateCreated\":\"2024-04-17T17:00:31Z\",\"datePublished\":\"2024-04-17T17:00:31Z\",\"dateModified\":\"2024-06-11T06:58:30Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/ktsl888.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/04\/Bitcoin_0c2206.jpeg?fit=1200%2C627","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/603688"}],"collection":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/users\/594"}],"replies":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/comments?post=603688"}],"version-history":[{"count":0,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/603688\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media\/603707"}],"wp:attachment":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media?parent=603688"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/categories?post=603688"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/tags?post=603688"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}