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Selling by Bitcoin ‘whales’ blunts institutional demand
Bitcoin demand remains under pressure even as institutional buying picks up, suggesting the broader market is still selling the token. Apparent demand, which measures the extent to which demand exceeds or falls short of new Bitcoin being mined, was negative to the tune of about 63,000 tokens as of late last month, the data analytics platform CryptoQuant said in a report published this week. That’s despite periods of stronger buying by exchange-traded funds and continued accumulation by Michael Saylor’s digital asset treasury firm Strategy Inc. “Selling from retail and other market participants is more than ... (full story)
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