In December 2024, U.S. spot Bitcoin ETFs acquired 51,500 BTC, almost three times the 13,850 BTC mined within the same month. This significant accumulation was influenced by a notable market momentum, as Bitcoin reached a record price of $108,135 on December 17. The disparity between demand and supply highlighted the urgent need for a price equilibrium, as stated by Onramp Bitcoin co-founder Jesse Myers. As the new year approached, Bitcoin continued to see substantial inflows, with over $900 million invested in Bitcoin ETFs on January 3 and nearly $1 billion anticipated on January 6. Major mining firms reported varying production levels for December; Marathon Digital led with 9,457 BTC, followed by Riot with 516 BTC and Cleanspark with 668 BTC. The overall production of Bitcoin fell short of ETF demand, indicating a potential supply shock in the market.

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