Grayscale: Bitcoin ETF or changing the supply-demand ratio, offsetting the selling pressure from miners after the halving and benefiting the price

ChainCatcher message, according to an analysis report by the asset management company Grayscale, the fundamental changes in the supply and demand balance of Bitcoin may have a greater impact on the price of cryptocurrencies, especially with the upcoming halving event.

Historically, price increases typically follow halving events. However, a new factor (i.e., ETFs) will also influence Bitcoin's performance during the halving event in April this year.

The report states: "In addition to the overall positive on-chain fundamentals, Bitcoin's market structure is favorable for price after the halving." The mining reward per block will be reduced to 3.125 Bitcoins after the halving, and to cope with cost pressures, miners usually sell more Bitcoin inventory, thereby increasing supply and driving down prices.