According to Wu, Glassnode co-founder Rafael tweeted that institutional demand has not absorbed the new BTC supply but is instead adding supply pressure. Over the past month, ETFs have reduced holdings by 71,600 BTC, while DAT has only increased holdings by 7,500 BTC. After adjusting for issuance, the combined net flow of the two is a net outflow of 77,000 BTC. Rafael stated that until this metric turns positive, any recovery will face net packaging supply pressure. https://(wublock123.com)/news/glassnode-cofounder-etf-dat-adjusted-net-outflow-77k-btc-63647