2025-12-20 02:22:08

Bitcoin liquidity crisis is quietly approaching—are you still waiting for a pullback?

Recently, on-chain data has been frequently making headlines, and one key figure warrants everyone's attention: the total circulating supply of Bitcoin that is accessible globally may only be 2.76 million coins. This is not alarmist talk.

A quick calculation makes it clear. Out of the total circulation of over 19 million coins, early accumulations by Satoshi Nakamoto, permanently lost coins on hard drives, and those confiscated by governments—these have already locked away more than half. Looking at the current situation: institutions like BlackRock and MicroStrategy are daily accumulating at high levels; retail investors who hold Bitcoin as "digital gold" are also increasing. The supply side is visibly drying up at a rapid pace.

What will happen under this pattern? Economics gives us an answer—scarcity combined with demand expansion can trigger market volatility with any slight disturbance. From a macro perspective, US employment data remains weak, and expectations for Fed rate cuts are growing stronger. If policies truly shift towards easing, where will the idle funds flow? Historical experience shows that besides the stock market, the other main destination is crypto assets, especially liquidity-limited "hard assets" like Bitcoin. Some research institutions even project a target price of $250,000 by 2027, and the logic behind this is not unfounded.

Of course, the market is always full of uncertainties. Some keen funds are already seeking incremental opportunities within the ecosystem—certain new concept tokens have gained popularity due to attention from prominent figures, reflecting short-term opportunities driven by narratives. These opportunities do exist, but participation requires mental preparedness.

From a broader perspective, the price fluctuations of those few points you're currently concerned about are actually insignificant compared to the overarching background of "liquidity scarcity + global easing." The real test is not whether you've been caught in a trap, but whether you can seize the main contradictions during this cycle. Hesitation often comes at the highest cost.

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PuzzledScholar

· 2025-12-21 20:07

2.76 million pieces? Oh my, as soon as this number came out, I couldn't sit still, I should have entered a position earlier.

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ChainBrain

· 2025-12-20 02:51

2.76 million tokens sounds like a lot, and I believe it anyway. BlackRock and MicroStrategy are疯狂扫货, retail investors are still struggling with ten-dollar fluctuations, the gap in perspective is too big. --- Waiting for a correction? It's really too late once the rate cuts are implemented, the historical experience is right there. --- To be honest, I am half skeptical about the 2027 target price of 250,000, but liquidity exhaustion is indeed not a scare tactic. --- Institutions are accumulating at high levels, while we are still thinking about bottom fishing. Isn't this just a harvest cycle? --- Instead of worrying about price fluctuations, it's better to think about whether your understanding of this cycle is deep enough. Hesitation is indeed the most costly. --- New concept tokens are indeed easy to be driven by trends, but playing with this stuff without proper mental preparation is just money going out the window. --- Liquidity scarcity combined with global easing, this macro background is much more reliable than technical analysis. --- I haven't calculated the 2.76 million figure, but looking at on-chain data, it definitely tells a story. --- The expectation of liquidity injection is growing stronger; money has to flow somewhere. Bitcoin is indeed gaining popularity.

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