With only 2 million Bitcoin left, if we assume a daily inflow of $500 million to Bitcoin ETF Spot, the equivalent of around 7,142 Bitcoin will leave exchange reserves daily, suggesting that it will only take 9 months to consume all of the remaining reserves,” Bybit’s researchers state in the study.

With this in mind, it’s unsurprising that Bitcoin’s price may continue to climb before the halving, or even afterward, as the supply squeeze propels the price to another new record.