The net growth of Bitcoin’s demand is slowing down, says Cryptoquant.
Bitcoin’s institutional purchases are substantial, but they are not enough.
Public contribution companies such as Strategy (MSTR) and Metaplanet, as well as Bitcoin ETF Spot (BTC) continue to accumulate the digital currency, but the price fails to take off to new historical maximums.
In the second quarter of 2025, public contribution companies added 131,000 BTC to their treasury, increasing their reserves by 18%, while ETF added 111,000 BTC, an 8%rise.
This increase reflects an increasing adoption of Bitcoin as a reserve asset, Although market dynamics prevent a significant rebound.
Cryptoquant, on-chain data provider, Explain that institutional purchases, although relevant, They only represent a part of the total demand in cash. For example, on December 7, 2024, the fastest growth day of BTC, the ETF and Strategy, the company with the largest possession of Bitcoin (597,325 BTC), contributed only to 33% of the total growth of demand, which reached 771,000 BTC.
However, Bitcoin’s general demand was contracted in 895,000 BTC in the last 30 days, which neutralizes the impact of these acquisitions and slows the bullish impulse.
On the other hand, Bitcoin’s purchases by the ETF and Strategy have shown a clear slowdown. The ETFs, which acquired 86,000 BTC on December 7, 2024, They reduced their purchases at 71,000 BTC on May 18, 2025 and 40,000 BTC as of July 5, 2025a 53%drop.
Similarly, Strategy, led by Michael Saylor, went from buying 171,000 BTC in December 2024 to only 16,000 BTC in the last 30 days, a 90%decrease. The company added additional 245 BTC on June 23, as reported by cryptootics, consolidating its position as leader in corporate holdings.
Despite these trends, Bitcoin remains resilient, quoting today at $ 108,000 and holding over the $ 100,000 resistance line for a prolonged period.
Cryptoquant emphasizes that the net growth of demand is slowing down, which keeps the asset in a consolidation phase. Institutional purchases, although positive, They fail to compensate for the general contraction of demand, limiting the breakdown potential towards new historical records.
In this context, the adoption of Bitcoin by public companies and ETF continues to grow, but with differentiated rhythms and strategies.
Public companies have surpassed the ETFs in accumulation by third consecutive trimester, showing a strategic commitment to the currency. However, the lack of a broader demand in the market in cash suggests that, for now, Bitcoin will remain at a stabilization stage, far from historical peaks Expected by many investors.
