Rafael: Institutional Demand Is Not Absorbing Bitcoin’s New Supply, Adding Selling Pressure

Glassnode co-founder Rafael said institutional demand is not effectively absorbing Bitcoin’s new supply and is instead increasing selling pressure. According to Foresight News, he cited data showing ETF net outflows of 71,600 BTC over the past month, while digital asset treasury companies (DATs) increased holdings by 7,500 BTC. After accounting for issuance, Rafael said ETFs and DATs together recorded net outflows totaling 77,000 BTC. He added that until these net outflows turn positive, any price rebound may face continued selling pressure linked to “wrapped assets.”