Bitcoin price eyes $96K as institutions absorb 500% of daily BTC supply

The article suggests that Bitcoin's (BTC) price is potentially targeting $96,000, driven by a notable trend of institutional investors absorbing a significant portion of the daily mined BTC supply. Historically, data indicates that when institutional demand has surpassed 500% of the daily newly minted Bitcoin, BTC has, on average, experienced gains of 24% within a single month following such periods. This strong correlation between institutional absorption and subsequent price surges is presented as a key factor influencing the current market outlook.