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Jake Simmons

Adler Data: Bitcoin Miner Supply Tightens, but No Clear Supply Shock Yet

Bitcoin miners appear to be holding less off-exchange inventory than in prior cycles, but the setup still falls short of a definitive supply shock. The latest Bitcoin Morning Brief by Axel Adler Jr. points to elevated miner-to-exchange inflows while miner-linked OTC balances remain meaningful at about 152.6K BTC. Adler characterizes the combination as tighter structural supply alongside persistent near-term selling pressure.