Institutional Demand Fuels Bitcoin Supply Squeeze Amidst ETF Inflows
Bitcoin's supply squeeze has gained momentum as US spot ETFs attracted $69.1 million in fresh institutional capital, according to Bitget.
This influx of funds coincided with muted exchange deposits, suggesting reduced immediate selling pressure despite recent market volatility.
The cumulative assets and inflows across major issuers continued to expand, with BlackRock's IBIT leading daily ETF demand and adding 583.26 BTC during the reporting period.
Fidelity's FBTC followed with another 323.20 BTC in fresh purchases, while Bitwise's BITB contributed 81.18 BTC.