Remember, the more that NGU, the greater the value of the new issuance per block. At $1M/BTC, that’s $450M of new Bitcoin per day that needs to be bought for the price to remain stable. Not an original idea, picked it up from Mallers.
Discussion
Lines up with the traditional blow off tops then bear for a year or so then next halving then 🔁
Not necessarily. That's if miners are selling all their bitcoin.
They aren't. At this point, I think 99% of miners are keeping the bitcoin they mine minus their operational cost. That's their selling pressure.