"Bitcoin Price Determined by Demand, Not Supply…Potential for 5x Market Cap Increase"

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An analysis has emerged stating that the price of Bitcoin (BTC) is determined by demand rather than changes in supply due to mining.

On the 12th (local time), 10X Research announced via their official X that "the last five Bitcoin bull markets were all driven by innovations in how investors acquire Bitcoin." They stated this shows that Bitcoin is increasingly integrating with traditional financial markets, particularly accelerated by the approval of Bitcoin-related products by U.S. regulatory agencies. They explained, "Considering Bitcoin's market cap is at the $2 trillion level, it shows the potential for a 5x growth while maintaining its position as digital gold."

Meanwhile, Bitcoin is trading at around $99,900, down approximately 0.9% from the previous day in the Binance Tether (USDT) market.