The "Institutional Era" has fundamentally shifted Bitcoin's market structure, with regulated products now absorbing more supply than is being created.
: With over 95% of all Bitcoin already mined , these large-scale "non-circulating" inventories are creating a supply-demand mismatch that historically leads to rapid price appreciation. 3. Favorable Macroeconomic "Risk-On" Shift further tightening the available "free float".
A growing number of public companies and governments are treating Bitcoin as a strategic reserve asset, further tightening the available "free float". further tightening the available "free float".