Bitcoin is expected to rally by the end of the year due to high demand from ETFs and companies, surpassing daily miner supply. On average, miners generate 900 Bitcoin per day, while businesses are buying 1,755 and ETFs are acquiring 1,430 daily. This buy pressure will push the price higher. Source: CNBC.

Bitcoin’s price has fluctuated between $111,369 and $113,301 in the last 24 hours, with a seven-day range of $111,658 to $117,851. Traders faced $2 billion in liquidations Monday, attributed to technical factors. Strategy chairman Michael Saylor predicts Bitcoin will rise towards year-end amidst resistance and macro headwinds.

Companies purchasing Bitcoin fall into two categories: operating firms choosing Bitcoin as a treasury reserve asset instead of dividends, and true treasury companies capitalizing on Bitcoin. At least 145 companies, including Strategy with 638,985 BTC, are strengthening their capital structure by adding Bitcoin to their balance sheets. Source: CoinTelegraph.

Read more at Cointelegraph: Saylor Predicts Year-End Bitcoin Rally Due to Demand Squeeze