VanEck: Bitcoin’s Summer Lull Masks a Tightening Supply
Bitcoin Magazine VanEck: Bitcoin’s Summer Lull Masks a Tightening Supply Base VanEck says Bitcoin's quiet summer trading masks a tightening supply base, with cautious derivatives and weak miner economics weighing on the near term even as long-term holders continue accumulating. This post VanEck: Bitcoin’s Summer Lull Masks a Tightening Supply Base first appeared on Bitcoin Magazine and is written by Micah Zimmerman.
What the video says
What if the quietest summer trading in years is actually masking a massive quiet transfer of power? As Bitcoin consolidates around $63,700, a new VanEck report reveals that short-term price action is heavily weighed down by cautious derivatives and weak miner economics near multi-year lows.
Yet, beneath this sluggish surface, long-term holders have continued to tighten their grip on the asset. The share of Bitcoin supply held for longer than a year has climbed to 60.8%, with projections showing it could reach 62% in just 3 months.
While summer spot volume has dropped near 29% from its post-2019 norm, the structural supply of Bitcoin is quietly drying up.
