A new theory circulating in the crypto market is challenging how investors interpret Bitcoin’s recent price decline. In a post shared on X (formerly Twitter), market analyst Crypto Rover argued that Bitcoin is no longer trading as a simple supply-and-demand asset, and that this structural shift is a major reason behind the current sell-off. A ‘Parallel Financial Layer’ Rover’s central claim is that although Bitcoin’s on-chain supply cap of 21 million coins has not changed, the way Bitcoin is traded in modern financial markets has effectively diluted its scarcity. According to him, focusing only on spot buying and selling misses what is really driving price action today
source: https://www.newsbtc.com/bitcoin-news/top-analyst-says-paper-bitcoin-is-driving-the-market-not-the-21-million-supply-cap/