“We haven’t even begun to reach the heights this is likely to go.” Alex Thorn, head of firmwide research at Galaxy, said in a market analysis posted on X (formerly Twitter) Thursday. He argued that the U.S. spot bitcoin ETFs are a “game changer,” providing steady – and recently accelerating – demand for BTC. Meanwhile, some 75% of bitcoin’s supply is owned by long-term holders, who have been unwilling to sell so far at recent price levels.
Source: https://www.coindesk.com/markets/2024/02/29/bitcoin-is-poised-for-its-biggest-monthly-gain-in-3-years/?utm_medium=referral&utm_source=rss&utm_campaign=headlines