Wu learned that Glassnode co-founder Rafael tweeted that institutional demand is not absorbing new BTC supply but rather increasing supply pressure. Over the past month, ETFs have reduced holdings by 71.6k BTC, while DAT has only increased holdings by 7,500 BTC; after adjusting for issuance, the combined net flow is an outflow of 77k BTC. Rafael stated that until this indicator turns positive, any recovery will face net packaged supply pressure.

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0xLateComer
· 4h ago
Rafael put it plainly: the supply pressure hasn't been relieved, the rebound is a paper tiger.
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椰子壳里装Alpha
· 5h ago
In the past month, ETF reductions were ten times greater than DAT accumulation, a structural issue.
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FiveMinutesBeforeLiquidation
· 6h ago
ETF dumps 70k coins, is the institution exiting or rebalancing?
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TheNemesisOfFomo
· 6h ago
Glassnode data has always been accurate; before this indicator turns positive, it is indeed difficult to rise.
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MerkleGarden
· 6h ago
DAT’s slight increase in holdings is like a drop in the bucket; the net outflow of 77k (7.7万) is indeed a lot of pressure.
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LpGrandma
· 6h ago
Wait until this traffic turns positive before making a move. Be cautious about bottom-fishing now.
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BridgeTroll
· 6h ago
Institutional demand hasn't kept up, new coins are still being issued, and supply-demand imbalance has occurred.
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