Glassnode Co-founder: Institutional Demand Fails to Absorb Bitcoin New Supply, Instead Intensifies Selling Pressure

CoinFeed June 29 news, Glassnode co-founder Rafael stated on X platform that institutional demand has failed to absorb Bitcoin's new supply, instead exacerbating market supply pressure. Over the past month, ETFs saw a net outflow of 71,600 BTC, while digital asset treasury companies only increased holdings by 7,500 BTC. After deducting new issuances, the combined net outflow was about 77,000 BTC. Rafael said that until this metric turns positive, any rebound will face resistance from net supply pressure.