Bitcoin Post-Halving Top? Analyst Says BTC Demand Outpacing Supply Over 6x in 2025

Bitcoin is holding regular round $108,716, in line with CoinDesk Data, however behind the flat value motion are indicators of a possible breakout as each retail and establishments ramp up accumulation.

On Aug. 29, André Dragosch, European head of analysis at Bitwise, famous that company adoption of bitcoin has accelerated at a historic tempo. He mentioned that July and August alone noticed the creation of 28 new bitcoin treasury firms and a rise of greater than 140,000 BTC in combination company holdings.

That determine is sort of equal to the overall quantity of recent bitcoin mined in a yr (which is round 164,000 BTC), underscoring how demand from treasuries is absorbing provide quicker than it’s produced.

The accompanying Bitwise chart confirmed a steep upward curve, highlighting how firms are more and more treating bitcoin as a reserve asset in the mould of Michael Saylors’ Strategy (MSTR).

Moments later, Dragosch addressed a preferred narrative amongst analysts that bitcoin may “top out” in 2025 due to post-halving cycle patterns seen in earlier years. He argued that such considering overlooks the dimensions of institutional demand at present.

His chart confirmed that as of Aug. 29, 2025, institutional demand has absorbed over 690,000 BTC, in contrast with a brand new provide of simply over 109,000 BTC, making demand roughly 6.3 instances bigger than provide.

While Dragosch described it as almost seven instances, the exact ratio nonetheless illustrates a unprecedented imbalance that challenges historic cycle comparisons. For buyers, the implication is that halving-driven provide dynamics could matter much less in the present period of institutional adoption.

Two days earlier, on Aug. 27, Dragosch pointed to retail shopping for as one other driver. He mentioned the speed of accumulation throughout all bitcoin pockets cohorts — from small holders to whales — had reached its highest stage since April. In his phrases, buyers seem like “stacking relentlessly.”

The Bitwise chart connected confirmed sharp upward strikes throughout pockets teams, suggesting that retail demand is lining up with institutional flows. Historically, synchronized accumulation throughout cohorts has usually preceded main upside strikes, making the present surroundings notable for bulls.

Despite the buildup of knowledge, bitcoin is little modified at $108,716 in the previous 24 hours, in line with CoinDesk Data, as markets await clearer catalysts.

Price Analysis Highlights

(All instances are UTC)

• According to CoinDesk Research’s technical evaluation information mannequin, between Aug. 30 at 15:00 and Aug. 31 at 14:00, BTC traded inside a $2,150 vary, fluctuating between $107,490 and $109,640.
• Heavy shopping for assist emerged close to $107,800, the place volumes exceeded each day averages, establishing a key short-term flooring.
• Resistance shaped round $109,600, the place repeated rejections indicated profit-taking stress.
• In the ultimate 60 minutes of the evaluation interval, BTC swung from $109,250 to $108,700 earlier than closing close to $108,900, displaying continued volatility however steady assist ranges.

Disclaimer: Parts of this text have been generated with the help from AI instruments and reviewed by our editorial workforce to make sure accuracy and adherence to our requirements. For extra data, see CoinDesk’s full AI Policy.