Bitcoin Institutional Buys Flip New Supply For The First Time In 6...

Bitcoin buying power from institutions flipped the daily mined BTC supply for the first time since the start of November, new data showed.

Bitcoin (BTC) institutional demand is finally outpacing new supply as the market hits a key pivot point.

Bitcoin institutional demand is now 13% higher than the amount of newly mined BTC on a rolling daily basis.

New data shows institution-fueled supply reduction returning for the first time since early November.

ETF outflows pass $600 million in just two days this week.

New data from quantitative Bitcoin and digital asset fund Capriole Investments shows that institutions are buying more BTC than miners are adding.

Bitcoin is becoming a target for institutions again as price action seeks a bottom more than 30% below October’s all-time highs.

Capriole reveals that for the past three days, institutional buying has surpassed the newly mined supply.

This is the first time that corporate demand alone has had a net reduction on the BTC supply since the start of November.

The figure remains modest compared to the peak of the bull market two months ago. Currently, institutions are buying 13% more than the daily mined supply.

Source: CoinTelegraph