Why Bitcoin Remains Bullish: Supply Scarcity and Adoption in 2026

The article argues Bitcoin remains structurally bullish in 2026 due to sharply declining issuance and rising institutional demand. After the April 2024 halving daily miner supply fell to ~450 BTC and the network surpassed 20 million BTC in circulation (~95% mined), creating quantifiable scarcity. U.S. spot Bitcoin ETFs and large buyers (including MicroStrategy) are absorbing new supply, with ETFs logging multi-day inflow streaks and BlackRock’s IBIT holding over 800,000 BTC. Regulatory clarity (CLARITY Act, MiCA) and potential Fed rate cuts in 2026 further support institutional adoption and allocation to Bitcoin as a store-of-value. The author views $100k–$150k by Q4 2026 as achievable under rate-cut scenarios, while noting risks from on-chain distribution metrics (coin days destroyed, MVRV Z-Score), negative funding rates and leadership change at the Fed that could pressure prices toward a possible floor near $55,000.