The "limited supply of 21 million" selling point of Bitcoin is questioned by the market, as ETFs and futures create "synthetic supply" impacting the market.
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ChainCatcher reported that as bitcoin's sell-off intensified and its price fell below $70,000, its core selling point of being "limited to 21 million coins" is being questioned by the market. Analysts point out that ETFs, cash-settled futures, options, and margin lending derivatives have diluted bitcoin's scarcity, creating "synthetic supply" and causing the price to be driven more by derivatives trading rather than supply and demand.
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