A recent analysis by crypto exchange Bybit has sounded the alarm on a potential shortage of Bitcoin (BTC) on exchanges by the end of 2024 if demand remains at similar levels.
The report predicts that reserves could be entirely depleted within the next nine months if current withdrawal rates persist — currently around 7000 BTC per day. The shortage forecast is closely tied to the anticipated halving event in 2024, which will cut the Bitcoin production on each block by half.
Alex Greene, a senior analyst at Blockchain Insights, said:
“The rapid depletion of Bitcoin reserves is preparing the market for a possible liquidity crisis. As reserves dwindle, the market’s ability to absorb large sell orders without impacting the price weakens.”
ETF demand
According to Bybit’s report, institutional investors have significantly increased their Bitcoin investments following recent US regulatory approvals of spot Bitcoin ETFs, driving up demand against a backdrop of shrinking supply.
Green
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