Mitchell Askew Discusses 15 Million Inactive BTC Impact on Bitcoin Price

Bitcoin is experiencing a rally despite a Federal Reserve rate hike and the failure of the Clarity Act, with on-chain data indicating that selling pressure may be nearly exhausted. Mitchell Askew, Head of Blockware Intelligence, highlights that long-term holder supply reached an all-time high of 15 million BTC this summer. This significant amount of inactive coins suggests potential for further price increases. Askew also analyzes Bitcoin ETF flows, indicating a return of institutional buyers to the market. He discusses various factors affecting Bitcoin, including the breaking of the four-year halving cycle, the impact of AI data centers on Bitcoin mining, and the current state of the hash rate bear market. Additionally, he touches on the implications of stranded energy and global mining dynamics, as well as generational attitudes towards saving in Bitcoin.