Spot Bitcoin ETFs in the United States saw unprecedented activity in December 2024, accumulating over 51,500 Bitcoin, outpacing the monthly miner production of only around 13,850 Bitcoin. This massive mismatch between supply and demand helped push Bitcoin’s price to record highs, reaching $108,135 mid-month. The massive demand for Bitcoin from these ETFs has disrupted the market’s balance, with momentum accelerating after Donald Trump’s presidential election victory. In contrast, miner data showed that monthly production from companies such as MARA Holdings, Riot, and Core Scientific fell far short of demand, signaling a “supply shock” that could impact the market in the coming months. In early January 2025, ETFs saw further large inflows, acquiring nearly $1 billion worth of Bitcoin, raising expectations that this trend will expand in the near future. Market analysis suggests that current supply is not enough to meet demand, meaning that Bitcoin prices could continue to rise if the current momentum continues. $BTC