Bitcoin (BTC) institutional demand is finally driving new supply as the market hits a critical pivot point.
Key points:
Institutional demand for Bitcoin is now 13% higher than the amount of newly minted BTC on a daily basis.
New data showed that supplies fell for the first time since early November.
ETF outflows pass $600 million in just two days this week.
Institutions bounce back with buying BTC
New data from Quantitative Bitcoin and Digital Asset Fund shows that institutions are buying more BTC than miners.
Bitcoin is once again becoming a target for institutions as price action looks to be down more than 30 percent from October’s all-time highs.
Capriol revealed that for the past three days, institutional purchases have surpassed the supply of new drugs.
This is the first time since the beginning of November that the supply of BTC has fallen net of only corporate demand.
These figures are modest compared to the peak of the bull market two months ago. Currently, institutions are buying 13% more than the daily mining supply.
As Capriol founder Charles Edwards noted earlier this month, the intervening period between the high of $126,000 and the recent low of $80,500 indicated significant tension for market players, including businesses choosing to build bitcoin corporate treasury.
There were no new treasury companies in the past month, but for the first time a treasury company has been sold pic.twitter.com/swxvj9pvzs
— Charles Edwards (@Capriolio) December 5, 2025
Attention has focused on Strategist, the company with the world’s largest treasury, which has continued to increase its BTC holdings despite falling prices and underperforming stocks.
Citing its AI-based analysis, Capriol’s Edwards highlighted a “broken corporate ‘flywheel'” this week, evidenced by record discounts to NAV in treasury companies and rising leverage. “
While bitcoin looks attractive when judged by the network’s fundamentals, pressure from corporate treasuries could complicate the “path of least resistance” to price recovery, the analysis added.
Bitcoin ETF costs match “strategic accumulation”.
Summing up the situation on Wednesday, Onchin analytics platform CryptoQuant described a “market in transition, where short-term pessimism is at odds with strategic accumulation.”
Related: Bears take k below 90k? 5 Things to Know in Bitcoin This Week
The network’s fundamentals, he noted, supported market entries, even as capital outflows from investment vehicles like U.S. spot bitcoin exchange-traded funds (ETFs).
“This gap between institutional outflows and acknowledgment by major players indicates that Bitcoin is torn between immediate stress and long-term expectations of appreciation,” concluded partner Gogavanchen in one of CryptoQuant’s “Quick Tech” blog posts.
Data from sources including UK-based investment firm Forside Investors put net ETF outflows at $635 million since Monday.
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