Bitcoin attempted to break above $65,000 yesterday but was unable to hold that level for long. Ethereum also followed suit, trying to reach $1,950 before retreating.
Meanwhile, according to recent data, the total reserves of Bitcoin held by publicly traded American companies reached 1,240,000 coins, accounting for nearly 93% of the digital asset's total corporate supply worldwide. According to the BitcoinMiningStock.io tracker, 1,239,968 BTC were recorded in the balances of public companies as of mid-June, confirming the scale of capital concentration in the American jurisdiction. At the same time, other countries, including Japan (with Metaplanet) and other markets, account for the remaining 7%.
Over the past year, these companies have purchased an additional 510,000 BTC, which is more than three times the amount mined by miners during the same period. This level of imbalance indicates a systemic disparity between supply and demand in the market. Each new coin entering circulation through mining is immediately absorbed by corporate demand, resulting in a threefold excess, meaning that the real deficit of freely circulating coins is growing faster than nominal issuance indicates. This directly correlates with earlier observations that public companies accumulated more than twice as much Bitcoin in the first quarter than miners produced, and the proportion of deficit has only increased over the year.
The scale of corporate Bitcoin absorption should be considered alongside the previously described JPMorgan phenomenon of miner capitulation, declining hash rates, and declining mining difficulty. If miners produce fewer new coins due to economic pressures, while corporate demand continues to grow at a pace three times greater than issuance, the structural deficit of available supply will only deepen, irrespective of short-term price fluctuations. This creates a kind of paradox in the current cycle: the market is experiencing one of the softest bear periods in Bitcoin's history because an increasing share of supply is being physically removed from circulation by corporate holders, rather than due to high speculative demand from retail and institutional traders.
All this is positive for Bitcoin and its future growth prospects towards new record highs.
As for the short-term trading strategy, the plan and conditions are described below.
*El análisis de mercado publicado aquí tiene la finalidad de incrementar su conocimiento, más no darle instrucciones para realizar una operación.
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