Bitcoin institutional buys flip new supply for the first time in 6 weeks
Institutional Bitcoin buying has surpassed newly mined supply for the first time in six weeks, signaling a return to supply reduction.Summary
New data from Capriole Investments indicates that institutional demand for Bitcoin (BTC) is now outpacing the daily newly-mined supply by 13% on a rolling daily basis, marking the first time this supply reduction has occurred since early November. This shift suggests institutions are accumulating BTC as the price trades significantly below October's highs. Despite this strategic accumulation by major players, the market is simultaneously experiencing short-term pessimism, evidenced by significant outflows from US spot Bitcoin ETFs, which totaled $635 million over two days this week. Analysts note a contrast between these ETF outflows and the underlying conviction of major players, suggesting Bitcoin is oscillating between immediate stress and long-term appreciation expectations, even as corporate treasury selling has complicated the price recovery path.
(Source：Cointelegraph)