After six weeks: institutional Bitcoin accumulations are once again surpassing miners' daily production

Turning point in the Bitcoin market – institutional demand finally surpasses new supply. Here’s what’s happening: - Daily institutional purchases exceed new BTC production by 13 percent. - Net flows are establishing a new trend after the longest pause since November. - U.S. spot ETF outflows reach $635 million in just 48 hours.

Corporate Return to Accumulation Market

Analytical data from Capriole Investments reveal a shift in sentiment – institutions are once again accumulating BTC at a rate surpassing daily mining output. After over a month-long pause, corporate demand is once again reducing the available supply. This is the first such phenomenon since early November.

Capriole analysts noted that over the past three days, net flows have been positive on the demand side. However, the scale should be viewed with caution – the current level of 13 percent above daily BTC production is only a fraction of what was observed at the peak of the bull market two months ago, when BTC reached a high of $126,080.

Charles Edwards, co-founder of Capriole, emphasized that the downward phase from the peak to a minimum of $80,500 created significant stress for corporate entities managing Bitcoin treasuries. Despite pressure on valuations, large firms are choosing to maintain or increase their positions, suggesting long-term institutional commitment.

ETF Outflows vs. Fundamental Accumulation – Market Discrepancy

CryptoQuant describes the current scenario as a “transitional phase” – the market is suspended between short-term pessimism and strategic accumulation by major operators. This discrepancy is significant: while U.S. spot ETFs are recording net outflows exceeding $635 million in just two days this week, major market players continue direct accumulation.

On-chain analysts observe that Bitcoin network fundamentals support position entries regardless of capital shifts in derivatives instruments. This dichotomy – ETF outflows versus institutional spot purchases – reflects tension between immediate market stress and long-term optimism about price prospects.

The scenario suggests that while smaller entities may be exiting derivatives, large institutions see current price levels (around $91,820) as an opportunity to accumulate. Historically, this leads to a market preparation phase for subsequent growth.