According to @Andre_Dragosch, institutional investors have purchased about 30,000 BTC year to date in 2026 while roughly 5,700 BTC have been mined, placing institutional demand at around six times new issuance, source: @Andre_Dragosch on X, Jan 14, 2026. This implies a net absorption of approximately 24,300 BTC beyond fresh supply so far in 2026, evidencing a concrete supply demand imbalance relative to mining output, source: @Andre_Dragosch on X, Jan 14, 2026.

According to @MilkRoadDaily, ETH has returned to market levels seen only three times historically, with these levels marking exhaustion in 2021 (source: @MilkRoadDaily). According to @MilkRoadDaily, over 1.5M ETH (approximately $8B) were purchased in August 2025, indicating record demand (source: @MilkRoadDaily). According to @MilkRoadDaily, ETH is now being bought faster than it is being issued, highlighting a supply-demand imbalance that differentiates the current setup from 2021 (source: @MilkRoadDaily).