glassnode co-founder: Institutional demand has not absorbed the new bitcoin supply and has instead increased selling pressure
Foresight News reported that glassnode co-founder Rafael stated on Twitter that current institutional demand has not effectively absorbed the new Bitcoin supply, but has instead increased selling pressure. Data shows that in the past month, ETFs saw a net outflow of 71,600 Bitcoin, while DATs (digital asset treasury companies) only increased their holdings by 7,500. After deducting issuance, the combined net outflow for ETFs and DATs reached 77,000. Until this net outflow turns positive, any price rebound will continue to face persistent selling pressure caused by "encapsulated assets".
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