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

Bitcoin is holding regular round $108,716, based on CoinDesk Data, however behind the flat worth 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 mixture company holdings.

That determine is sort of equal to the overall quantity of recent bitcoin mined in a 12 months (which is round 164,000 BTC), underscoring how demand from treasuries is absorbing provide sooner 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 right this moment.

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 rare imbalance that challenges historic cycle comparisons. For traders, 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 degree since April. In his phrases, traders seem like “stacking relentlessly.”

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

Despite the buildup of information, bitcoin is little modified at $108,716 in the previous 24 hours, based on 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 15:00 UTC and Aug. 31 14:00 UTC, bitcoin traded in a slender $1,285 vary, peaking at $109,518.96 earlier than retreating.
• Resistance held agency close to $109,500 on a quantity spike of 6,077 BTC.Support shaped round $108,350–$108,400, the place consumers stepped in.
• A surge in quantity to eight,272 BTC at 13:00 UTC pointed to institutional participation at these ranges.
• In the ultimate hour of the evaluation interval, BTC broke larger from $108,340.08 to $108,398.41, with a two-phase transfer: consolidation round $108,260–$108,350, adopted by a breakout above $108,470 resistance at 13:46 UTC.
• Profit-taking created pullbacks to the $108,320–$108,360 vary, however sustained shopping for stored costs above $108,380 into the shut.
• Volatility stays elevated after the sharp drop from $124,500 earlier in August.
• BTC continues to be beneath key $110,500 resistance, and analysts warning {that a} take a look at of the $100,000 psychological degree can’t be dominated out.

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