Rafael(@n3ocortex):Institutional demand isn’t absorbing new $BTC supply – it’s adding to the overhang. ETFs shed 71.6K BTC over the past month, DATs added just 7.5K. Adjusted for issuance, combined flows are −77K #BTC. Until this flips positive, any recovery is fighting net wrapper supply.

Rafael

@n3ocortex

Ex-neuroscientist | Python Maximalist | Swing HODLer | Data Scientist | Co-founder @glassnode

Joined June 2016

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Rafael@n3ocortex

2026.06.28 17:11

Institutional demand isn’t absorbing new $BTC supply – it’s adding to the overhang. ETFs shed 71.6K BTC over the past month, DATs added just 7.5K. Adjusted for issuance, combined flows are −77K #BTC#. Until this flips positive, any recovery is fighting net wrapper supply.