On Tuesday, there was a new record in the demand for U.S. Bitcoin spot ETFs, with over $1 billion in daily net inflows for the first time ever. Although outflows from the Grayscale Bitcoin Trust (GBTC) remain steady, they have decreased to $79 million from $494 million the day before. In the same time period, BlackRock’s iShares Bitcoin Trust saw an unprecedented $849 million in investments, while other competitors like VanEck received $82 million. Interest in these ETFs has been consistently high since their launch on January 11, accumulating a total of $11.1 billion in inflows in just over two months. The exceptional performance of these funds has exceeded the predictions of experts and contributed to Bitcoin (BTC) reaching a new record high ahead of its usual halving trend. Together, the ten funds now possess over 800,000 BTC, representing close to 4% of the total BTC supply that will be available in the future. If they continue to absorb coins at the current pace, experts believe that the Bitcoin market could face a liquidity crisis where the supply cannot keep up with the high demand. The CEO of CryptoQuant, Ki Young Ju, stated that well-known entities involved in cryptocurrency, such as miners, exchanges, and large holders, currently own 3 million BTC, with 1.5 million BTC being held by them. He warned on Twitter that there may be a shortage of sellers within the next 6 months if this trend continues. According to him, a shortage of liquidity could lead to Bitcoin surpassing expectations at its peak, as an abundance of buy orders enter thinly traded Bitcoin markets. While demand for buying ETFs remains strong, data from CryptoQuant’s Exchange Netflow dashboard reveals that Bitcoin exchanges have seen more funds leaving than entering in the last month. A representative from CryptoQuant explained that a high flow value indicates an increase in selling pressure across all exchanges. High volatility may be suggested for a derivative exchange. However, the situation regarding data on Bitcoin miners is not straightforward. Miner revenues are increasing significantly as the price of Bitcoin rises, leading them to move their coins on-chain, possibly indicating that they are selling some of their holdings. On the other hand, major miners such as Marathon Digital and Riot Platforms seem to be accumulating more Bitcoin. According to Ju, the bull market will likely persist unless there is a decrease in ETF inflow. Stacy Elliott made edits to this information. To stay informed about cryptocurrency news, sign up to receive daily updates in your email.