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Data: Institutional Bitcoin purchases have fallen below mining supply for the first time in seven months.
According to ChainCatcher news and reported by BeInCrypto, the net purchase amount of Bitcoin by institutional investors has fallen below the daily mining issuance for the first time in seven months. Charles Edwards, head of the crypto investment firm Capriole Investments, pointed out that DAT purchases have significantly decreased since August 14; the demand for Spot ETFs also sharply declined after the big dump in the market on October 10. The current net purchase volume by comprehensive institutions has fallen below the daily issuance of newly mined Bitcoin. Edwards stated: Currently, there are 188 DAT that hold large positions but lack a business model, and the interest from institutional buyers is much less than before.