10xResearch: Bitcoin prices are driven by demand rather than mining, this development highlights the increasing integration of Bitcoin with traditional finance

10xResearch posted on X platform stating that, contrary to popular belief, they believe the price of Bitcoin is driven by demand, not changes in the supply of BTC itself (mining).

Each round of Bitcoin's five bull markets has been driven by innovations in investor acquisition methods, from creating early spot trading platforms to using contracts, unsecured loans, spot bitcoin ETFs and other tools, as well as options for these ETFs now.

This progress highlights the increasing integration of Bitcoin with traditional financial markets. The approval of US regulators such as CFTC and SEC has accelerated this trend. Over time, these institutions have legalized Bitcoin-related financial products.