Supply Squeeze Imminent for Bitcoin, Says CryptosRUs Analyst
According to George of CryptosRUs crypto YouTube channel, a supply squeeze is imminent for Bitcoin soon. George noted that Bitcoin has slowed down over the past several days, but it does not mean market participants should give up on the pioneer cryptocurrency. He believes coming events will regenerate an active market for Bitcoin.
Macro Events to Favor Bitcoin
In a recently uploaded video, George argued that the effect of upcoming macroeconomic events will favor Bitcoin. The CryptosRUs analyst highlighted the proposed interest rate cuts by the U.S. Federal Reserve as a signal for an imminent Bitcoin supply squeeze. He further noted that other top economies plan the same thing and would implement rate cuts.
Grayscale’s Diminishing Supply to Promote Bitcoin Squeeze
Another factor George thinks will contribute to the supply squeeze is the ETFs. In his analysis, he predicts the outflow seen on Grayscale is bound to slow down based on a diminishing supply. According to him, that would have a massive impact on the Bitcoin supply squeeze, especially with the newly launched ETFs creating more inflow.
Predictions for Bitcoin’s Growth
For prediction, George believes Bitcoin has more room for growth and could rally to $500,000 by the end of 2025. The flagship crypto traded for $65,191 at the time of writing, recovering from a recent dip to $60,760, according to data from TradingView.
With upcoming macroeconomic events and Grayscale’s diminishing supply in focus, Bitcoin seems poised for a supply squeeze that could drive its price to new heights. George’s insights provide a glimpse into the potential future of the cryptocurrency market, offering hope for investors looking to capitalize on the digital asset’s growth.
