🟠Institutional investors have begun accumulating Bitcoin faster than miners are bringing new coins into circulation. For the first time in a month, corporate demand has exceeded the pace of issuance, despite a price correction of more than 30% from October highs. Analysts at Capriole point to elevated stress levels and pressure from corporate treasuries, which could slow the market’s near-term recovery.
🟠At the same time, demand remains uneven. Short-term investors are realizing losses and pulling capital from ETFs, while miners and large holders continue to accumulate. This divergence suggests a transitional phase for the market, where prevailing pessimism may ultimately lay the groundwork for longer-term growth.