Jeremie Davinci, an early Bitcoin adopter and YouTuber, has published a tweet that gained traction with the crypto community fast.
Davinci has shared a CryptoQuant chart a drastic decline in the Bitcoin supply held on various cryptocurrency exchanges. He believes that soon it will be quite hard to buy any BTC at all.
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“Supply shock is brewing”
Davinci published a chart and a message to the community, saying that there is “no Bitcoin left on exchanges.” The billionaire added that crypto miners are not selling BTC now, therefore, he concluded: “A supply shock is brewing.”
However, the chart shows that the complete absence of Bitcoin on trading platforms in not exactly right. It shows a sharp decline of Bitcoin supply on exchanges to roughly 2.4 million BTC. One of Davinci’s followers pointed this out in the comments.
First Bitcoin supply shock predicted in January 2024
The first who began predicting a Bitcoin supply and demand shocks coming was the CEO at JAN3 Samson Mow. He made that prediction in January 2024 when the SEC under Gary Gensler’s rule approved the launch spot Bitcoin exchange-traded funds (ETFs). Once launched, the ETFs with BlackRock’s IBIT as a leader started accumulating BTC, buying per day more than Bitcoin miners produced.
Mow predicted that with the ETFs continuing accumulating Bitcoin at a hard pace and other financial institutions joining them in that race, there will soon be a) a Bitcoin demand shock and b) a Bitcoin supply shock since the fourth BTC halving was due on April 20, and c) these two Bitcoin shocks would clash, propelling the Bitcoin price up to $1,000,000 in one or several Omega candles.
As it turned out, it was rather Donald Trump’s victory in the November 2024 election rather than ETF accumulating BTC or the halving that drove Bitcoin to several new all-time highs, including the one of $109,100 on Trump’s inauguration day – January 20, 2025.
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BlackRock ETF welcomes inflows for 20 consecutive days
BlackRock’s inflow streak has now reached 20 days in succession, as was pointed out on the X app earlier today by ETF Store President Nate Geraci.
He pointed out that over these past 20 days, the ETF has raked in a whopping $5 billion in investments. Thus, Geraci has shattered the “no Bitcoin demand” narrative recently voiced by several analysts, including Bitcoin critic Peter Schiff.
