Bitcoin Price Surges on Limited Supply as Investors Anticipate ETF Approval
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Supply of bitcoin available to trade on exchanges is at lowest level since 2018, potentially causing a supply shock.
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Approval of a spot bitcoin ETF could further increase demand and strain limited supply.
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Bitcoin recently hit $35,000, reaching highest price level since May 2022, amid optimism around ETF approval.
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Millions of original crypto investors are holding bitcoin long-term, limiting liquid supply.
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Bitcoin supply was designed to be finite, capped at 21 million tokens, with currently 19.5 million in circulation.