Bitcoin price may slide toward $30K as institutions dump 450% of daily BTC supply
Bitcoin’s institutional support weakened as ETFs and companies dumped almost 2,000 BTC daily and Strategy’s buying lost momentum.
Bitcoin (BTC) faced renewed risks of a breakdown toward $30,000, according to a new analysis, as institutional demand turned deeply negative.
Key takeaways:
Capriole Investments’ institutional buying model, which tracks Bitcoin demand from ETFs, corporate treasuries, and miner issuance, shows net institutional selling at around 450% of daily mined supply, equivalent to about 2,000 BTC per day.
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