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Glassnode co-founder: Institutional demand has failed to absorb the new supply of Bitcoin, instead exacerbating the selling pressure.

金色财经_
Golden Finance reported that on June 29, Glassnode co-founder Rafael posted on X platform, pointing out that institutional demand has failed to absorb the new supply of Bitcoin, instead exacerbating market supply pressure. Over the past month, ETFs saw a net outflow of 71.6k BTC, while digital asset treasury companies only added 7,500 BTC. After deducting new issuance, the comprehensive net outflow was approximately 77k BTC. Rafael stated that before this data turns positive, any rebound will face resistance from net supply pressure.
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