Institutional Demand at 500% of Bitcoin Supply Could Drive BTC to $96K: Analyst

Institutions are buying Bitcoin (BTC) at more than five times the rate miners are producing it, and according to Capriole Investments founder Charles Edwards, that gap has historically come right before huge price gains. In a post on May 4, Edwards said every instance in the past of this demand-to-supply ratio produced an average return of 24% over the following month, which, from current levels, would take BTC to ar…