The landscape of Bitcoin (BTC) ownership is undergoing a transformation, with significant holders either opting to retain or divest their assets. While miners and large investors tend to hold onto their BTC for the long haul, exchange-traded funds (ETFs) are now contributing to selling pressure in the market.
Currently, BTC is experiencing a notable shift among its major holders. Certain wallet categories are emerging as steadfast long-term investors, while others are increasingly becoming net sellers.
As of now, BTC is trading at $86,401.82 amidst an atmosphere filled with extreme fear. The recent downturn has caused it to fall below multiple support levels. Presently priced just above $84,000—the average cost basis for ETF buyers—this situation may trigger additional selling from mainstream investors.
Conversely, a new wave of accumulation wallets is actively increasing their BTC holdings. Miners have also maintained stable reserve levels throughout this period. The majority continue to view BTC as a long-term asset while whales take advantage of lower price points after securing profits near previous highs.
Institutions Liquidate While Native Holders Retain
The current correction sees BTC down nearly 7% over the past week—a scenario that has led to varied market movements. Notably, one strategy has acquired more than 10,000 BTC recently; Michael Saylor’s firm has been purchasing an average of 640 BTC daily since the start of 2025—though this figure marks a decline from August’s rate of 785 per day.
In light of these developments, analysts are focusing on miner and whale retention patterns as indicators of enduring confidence in Bitcoin’s future value.
BTC miner reserves remain relatively steady at approximately 1.89 million tokens despite ongoing production during challenging conditions and minimal selling activity on Binance exchanges. Most miners can sustain holding due to significantly low cost bases established in prior cycles.
Additions have been made among addresses holding over 1,000 coins, which have remained stable—with only about sixty wallets reducing their holdings in the last quarter alone. Furthermore, around three thousand new wallets containing over one hundred bitcoins were created recently—indicative of renewed interest from larger players in accumulating assets.
Despite recent sell-offs affecting prices temporarily there remains strong demand ready to absorb available bitcoins quickly due largely because scarcity continues growing within markets today!
The Halted Rally: What Happened?
This cycle appears far more favorable compared with previous years yet still finds itself mired within another extended downturn characterized by 72 days‘ worth of losses since reaching all-time highs last year!
Longtime analyst PlanB weighed-in regarding current pricing weaknesses stating he believes those liquidating positions right now seem intent upon preemptively avoiding another bear market akin too what transpired between late-2021 through early-2022!
Why isn’t bitcoin surging?
Because half (50%) are offloading assets – OGs traumatized post-2021 alongside technical traders analyzing RSI trends combined with four-year cycle enthusiasts anticipating bearishness two years following halving events – whereas other half (50%) consists primarily out buying behaviors exhibited by fundamentalists along traditional finance entities/banks alike!
An epic battle ensues… until sellers run out ammunition! pic.twitter.com/er7upg25RV
Currently existing dynamics surrounding btc rely heavily upon less visible accumulations occurring amongst spot-holders who maintain confidence towards achieving higher price records moving forward into upcoming years ahead! Nevertheless btc seeks local bottoms whilst traders deliberate whether historical four-year cycles remain relevant anymore…
Evaluating via Market Value Realized Value ratio suggests that present-day trading resembles conditions observed during bear markets witnessed back earlier this year; short-term forecasts indicate potential drops downwards towards ranges like seventy-thousand dollars ($70k), even plunging potentially closer toward forty-thousand dollars ($40k)—before eventually rallying again into bullish territory thereafter!