BTC miners have shown resilience, intensifying the chances at an incoming supply shock. However, demand remains low.
However, the market bottom remained elusive, reducing the impact of their efforts.bulls showed strength over the weekend, recovering from a dip at $52K. With ongoing volatility in leveraged positions, the backing of large holders is becoming increasingly crucial.
Therefore, for a supply shock to take hold, AMBCrypto found that a few key factors must align. If these conditions are met, a potential price surge could follow as supply tightens in the market.From an economic standpoint, a significant crunch in BTC supply could be a crucial catalyst for a price correction.In short, miners offloading less BTC means the supply shock could become more pronounced.
As of now, the total circulating supply of BTC is 19.7 million. Miners hold 1.8 million BTC, representing approximately 9.1% of the total supply. If this increased buying pressure sustains the supply crunch, a supply shock could indeed be achieved.The MVRV chart tells you..
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