Institutional investors are absorbing more than five times the daily mined supply of Bitcoin, according to new data from Capriole Investments and Glassnode.
Major U.S. firms including BlackRock, Fidelity, and MicroStrategy are driving demand through ETF purchases and treasury allocations. The influx has pushed Bitcoin above $80,000, with analysts at Capriole projecting a move to $96,000 by June.
Market odds on Polymarket show a 99.9% probability that Bitcoin stays above $66,000 on May 7, reflecting strong conviction in the current rally.
Key factors to watch: additional institutional announcements from BlackRock and Fidelity, and any Fed rate signal that could shift macro sentiment.