Data: Institutional Bitcoin Purchases Fall Below Mining Supply for the First Time in Seven Months
ChainCatcher news, according to BeInCrypto, the net bitcoin purchases by institutional investors have fallen below the daily mining issuance for the first time in seven months. Charles Edwards, head of crypto investment firm Capriole Investments, pointed out that DAT purchases began to drop sharply from August 14; spot ETF demand also plummeted after the market crash on October 10.
Currently, the combined net institutional purchase volume is already lower than the daily newly mined bitcoin supply.
Edwards stated: There are currently 188 DATs holding large positions but lacking a business model, and institutional buyers' interest is much lower than before.
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