Since its creation, Bitcoin has intrigued as much as it fascinates. But today, a rare phenomenon attracts the attention of experts: the available offer of Bitcoin melts as snow in the sun, while demand continues to climb. According to the recent analyzes of the Swiss Bank Sygnum, we would be at the dawn of a shock of rarity. And the consequences may well redraw the global financial card.
In short
- The Bitcoin liquid offer collapses, carried by the institutional accumulation and the massive withdrawals of the platforms.
- States and governments are considering Bitcoin as reserve assets, strengthening its world legitimacy.
- Handy volatility dominates, signaling a mature market ready for a new prices.
An emerging imbalance: less bitcoin, no more demand
In 18 months, the Bitcoin liquid offer dropped by 30 %. A raw statistic but loaded with meaning. Clearly, less BTC circulate freely on the markets. This tightening comes mainly from the major institutional actors who, like discreet collectors, remove their chips from public exchanges. ETF, listed companies, specialized funds: all accumulate, without reselling.
Why this behavior? For strategic reasons. These entities use new acquisition vehicles, such as titles backed by bitcoins, in order to keep them out of the market. This artificially reduces the available offer, a mechanism historically known to cause prices.
But the mechanics do not stop there. Since the end of 2023, more than a million BTC have left exchange platforms as reported Cointelegraph. In other words, the tap closes, but the bathtub always fills faster. Because at the same time, geopolitical uncertainties and the fragility of the US dollar push investors to seek a haven of peace. And this haven now has a name: Bitcoin.
States get involved
Private institutions are no longer alone in dance. Three American states have already paved the way for public reserves in Bitcoin, and Texas is preparing to follow. A trend that extends: in the United Kingdom, the Reform UK party evokes the same strategy, as is the Pakistani government.
This evolution marks a paradigm shift. The idea of a state storing bitcoin is no longer a libertarian fad, but a serious financial approach. If these official purchases are materialized, they could cause a double lever effect: a direct increase in demand and a powerful legitimacy signal sent to global markets.
For Sygnumthe real shock will not only come from the volume of these purchases, but from the psychological effect they will generate. If a state is betting on Bitcoin, then why not the others? And above all: Who will still want to sell?
Another major data: the bullish volatility of Bitcoin now exceeds the lowering. Where the market was once known for its spectacular crashes, it is more stable today … but in the right direction. Since 2022, each price rise is more vigorous than the decreases, a sign that the market is gaining maturity, supported by long -term investors.
And that's not all. Bitcoin is increasingly positioned as a macroeconomic refuge, in the same way as gold. Faced with the explosion of American debt and the massive sale of treasury bills, some now prefer to secure their capital in BTC. This correlation between gold and Bitcoin was further strengthened in May, the two assets climbing together.
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