Although BTC has recently stabilized around $60,000, the prospects for a significant recovery remain bleak because institutional demand is far below the ability to absorb supply.
The latest chart from Glassnode shows that bitcoin exchange-traded funds (ETFs) have sold 71,600 BTC, worth more than $4 billion, this month, the largest redemption on record. Meanwhile, corporate treasuries, or digital asset treasury companies, have seized just 7,500 BTC. If we add to this the new coins mined each day, the net figure amounts to around -77,000 BTC ($4.4 billion).
In other words, more supply is reaching the market than the largest players are absorbing, creating what analysts call a “supply glut.” High-value vehicles are actually increasing selling pressure.
Against this backdrop, Strategy (MSTR), the largest bitcoin digital asset company, announced a BTC monetization plan on Monday, authorizing up to $1.25 billion in potential bitcoin sales, primarily to create a reserve of $2.55 billion to cover preferred dividends and interest expenses.
These developments suggest that any price rebound is likely to be short-lived unless those flows turn positive and institutional demand returns. It is a key signal for traders watching whether the recovery has real fuel or is just temporary.
