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Bitcoin’s rapid demand is eating up market supply

Demand for Bitcoin (BTC) is growing at a monthly rate of 228,000 units, while supply is at its lowest level since 2020, according to research firm CryptoQuant.

Bitcoin hoarding addresses have hit a record high of 495,000 units per month, and OTC exchange inventory has fallen by 26,000 units in 2024.

The supply-to-demand ratio has also fallen to 6.6 months from 41 months in October. At the same time, the total value of stablecoins has crossed the $200 billion mark for the first time, indicating new liquidity entering the market.

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