‘Not good’ for price: Bitcoin ETF demand starts to lag newly mined BTC

Institutional demand for Bitcoin (BTC), tracked via spot ETFs and corporate treasury activity, has dropped below the daily amount mined for the first time in seven months, according to Charles Edwards of Capriole Investments. This decline, which began in mid-August, saw combined institutional demand trail daily mining output on November 3. Initially, inflows from spot Bitcoin ETFs compensated for reduced corporate demand, but ETF demand has also contracted sharply since the October 11 market crash, resulting in $1.67 billion in net outflows since that date. Edwards noted this metric was the main reason he remained bullish, calling the current situation “Not good.” Furthermore, Bitcoin treasury firms are trading below their Net Asset Values (NAVs), suggesting eroding confidence among these companies, which could lead to increased selling pressure if the trend continues. The market's recovery is seen as dependent on institutions restarting large-scale acquisitions.

(Source：Cointelegraph)