Bitcoin's price has largely tracked net institutional demand over the past year, according to Bitwise. Net institutional demand is the buying activity of global exchange-traded products (ETPs) and treasury companies minus new supply. The trend played out again after Strategy (formerly MicroStrategy) purchased $1.25 billion in BTC, alongside $753 million in net inflows into US spot BTC exchange-traded funds (ETFs). {chart} Following the move, Bitcoin rose above $97,000 for the first time in three months on Wednesday. The top crypto has continued to extend its post-Consumer Price Index (CPI) gain, rising 6.7% over the ... (full story)