Analysis: Trump's victory is not the only "narrative" driving Bitcoin's rise, the supply shock after the halving is the main reason

Jesse Myers, co-founder of Onramp Bitcoin, said in a post on X that Trump's victory in the US election is unlikely to be the "main reason" for Bitcoin's recent surge, and the supply shock after the halving event is the root cause. "If you want to know what happened to Bitcoin... yes, the incoming Bitcoin-friendly government has recently provided a catalyst... but this is not the main reason," he added, adding that the supply shock has accumulated after the halving, "the current price is not enough to meet demand", and the supply and demand price balance must be restored. The only way to do this is to let the price rise, which will lead to frenzy and bubbles, but this is how the current market works." (Cointelegraph)