For the first time in six weeks, institutional purchases of bitcoin have exceeded supply from mining. This discreet reversal, revealed by CryptoQuant data, occurs in a market in a consolidation phase, marked by the decline of individual investors.
In brief
- For the first time in six weeks, institutional purchases of bitcoin exceeded the supply generated by mining.
- This reversal was confirmed by CryptoQuant via the “adjusted netflow” indicator, signaling a resumption of institutional accumulation.
- The daily supply of BTC, estimated at around 900 units, was entirely absorbed by purchases by large financial players.
- If this trend continues, it could mark a turning point in the balance between supply, demand and the price of bitcoin.
A dynamic of institutional accumulation that reverses the trend
The market experienced a notable inflection in bitcoin flows this week: institutions bought more BTC than was produced by mining companies.
This phenomenon was observed for the first time in six weeks, as indicated by Ki Young Ju, CEO of the on-chain analysis platform CryptoQuant. In a message relayed on the networks, he specified that the indicator “adjusted netflow for entities” clearly showed a reversal of trend: “ institutional accumulation is once again higher than supply from daily mining “.
On-chain data published by CryptoQuant confirms that buying pressure from institutional players has temporarily exceeded the natural supply of the network. This shift is based on several factual elements:
- Daily bitcoin issuance remains stable at around 900 BTC per day, per protocol;
- Institutional purchases crossed this threshold, signaling a net absorption of liquidity in spot markets;
- The phenomenon had not been observed for six weeks, which marks a break in a previous trend of underabsorption.
This type of signal is generally closely monitored by analysts, as it can precede a phase of supply compression if demand remains strong. For the moment, the flows in question mainly concern OTC channels and institutional products, far from the speculative agitations of leveraged markets.
An isolated signal or the prelude to a phase of lasting accumulation of bitcoin?
Beyond the simple reading of flows, this renewed accumulation is part of a global context. Data from CryptoQuant indicates that these are the entities classified as“institutional”which are at the origin of this upward imbalance between demand and issuance.
According to Ki Young Ju, these movements are correlated with a “long-term strategy of discreet accumulation”, without frenzied activity on the derivatives markets, but with significant volumes on the spot markets. This observation contrasts with the usual volatility of retail-driven bull market phases.
If this dynamic were to repeat itself in the coming weeks, it could reinforce the relative scarcity of bitcoin on liquid markets. As it stands, this signal does not prejudge an immediate increase, but constitutes a marker of growing interest for exposure to bitcoin over the medium/long term horizon.
If demand continues to exceed supply, the market could enter a new phase of accumulation. At the same time, the shares of Bitcoin mining companies are falling, reflecting a decline in investor confidence in the face of the sector's declining profitability.
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