Institutional BTC sell-off is 4.6x daily mining output, analyst says

Daily Bitcoin selling by institutional investors has reached an all-time high, according to Charles Edwards, founder of Capriole Investments. In a post on X, Edwards stated that the largest institutional sell-off in history is underway. He noted that net sales each day amount to over 460% of the daily Bitcoin mining volume, with ETFs leading the trend. According to a chart shared by Edwards, a "Total Excess" indicator fell to -464%, its lowest recorded level, signifying that net selling centered around ETFs is equivalent to approximately 4.6 times the new supply of BTC.