Биткойн, ведущая мировая криптовалюта, в настоящее время сталкивается с беспрецедентным кризисом ликвидности, поскольку спрос растет, а ликвидность на стороне продаж сокращается.

A recent report from CryptoQuant, an online analytics platform, shows that the available supply of Bitcoin may only be enough to cover demand over the next 12 months if current growth rates continue.

The main driver behind this liquidity crunch is the record high demand for Bitcoin, especially from institutional investors. The emergence of spot Bitcoin exchange-traded funds (ETFs) in the US has contributed significantly to the increase in demand as these investment vehicles continually accumulate Bitcoin.

At the same time, the liquidity of Bitcoin sellers is trending downward, further exacerbating the crisis. The total visible supply of bitcoin held by key institutions has reached historic lows, indicating holders' reluctance to sell their assets. This imbalance between growing demand and decreasing liquidity on the sell side has created a severe shortage of available Bitcoin in the market.

The liquidity crisis becomes even more pronounced when we consider the supply of Bitcoin on US exchanges. For example, Coinbase, the largest US exchange, saw its supply of Bitcoin fall to its lowest level since 2018. This shortage on trading platforms further limits the available supply for buyers, increasing competition for the limited number of bitcoins in circulation.

Despite liquidity issues, Bitcoin's price has shown resilience recently. After recovering ahead of the halving, Bitcoin found support at its previous all-time high of $69,000 and has since bounced back, hovering around the $70,000 mark. This price action demonstrates the underlying strength of the Bitcoin market even in the face of a liquidity crisis.

The continued lack of liquidity could have positive consequences for the price of Bitcoin in the long term. As demand continues to outstrip supply, the resulting shortages can cause prices to rise. Analysts predict that reduced liquidity on the sell side, coupled with persistently strong demand, will likely push Bitcoin's value higher.

With year-over-year growth of over 150% and a current market capitalization of $1.38 trillion, Bitcoin continues to firmly hold the top spot in the cryptocurrency market.