NIK on Nostr: 📊 Visualizing BTC scarcity! 💰 This chart illustrates the value of the available ...

📊 Visualizing BTC scarcity! 💰 This chart illustrates the value of the available btc supply and its value in dollars, showcasing its scarcity over time. Smaller supply = greater price impact. Don't just focus on available BTC supply, consider $ value. It's a more nuanced perspective than just looking at available btc supply. But the declining supply in $ value, even with the added supply in BTC from mining, remains highly bullish. 🚀 #BTC

Calculating Available Supply (also known as Tradable Supply) involves this formula: Available Supply = Circulating Supply - Illiquid Supply. And when you multiply the Available Supply by the BTC price, you get the Available Supply in dollars.

Thanks to therationalroot (npub1r00…sqe8) for providing some data behind this chart! 🙌 I'll be attempting to gather similar onchain data soon using my node and other tools like Python. So, for more market updates, feel free to follow me. ⚡️