New YorkCorporate bitcoin buying fell to 5,900 coins.
That is a fraction of last year’s 100,000-coin quarterly pace, Glassnode data show.
The buying was equity issuance recycled into bitcoin, leaving the cohort’s Glassnode-tracked $80,500 average cost underwater.
The bid disappears once share premiums close, just when the market needs a buyer most.
Sources: CoinDesk