Institutional BTC buying rebounds, exceeding daily mined supply

Institutional demand for Bitcoin is showing signs of resurgence as the cryptocurrency attempts to establish a price floor following a decline of over 30% from its all-time high, Cointelegraph reported. According to crypto investment firm Capriole Investments, institutional purchases have outpaced the daily supply of newly mined BTC for the last three days. This marks the first time such a trend has been observed since early November. Current institutional buying volume is approximately 13% higher than the daily mining output. While this figure remains below the levels seen when BTC hit its record high two months ago, the firm noted that the renewed interest from institutions is a significant development.