Bloomberg: In the past year, early Bitcoin holders have sold 500,000 BTC. Institutional inflows are stagnant, posing a risk of a sharp decline.

By: theblockbeats.news|2025/07/04 00:41:49
0
Share
copy

BlockBeats News, July 4th, according to Bloomberg, despite continuous good news, the price of Bitcoin has been unable to break out of the current trading range for months. Beneath the surface, while long-term dormant whales are reducing their positions, institutional investors are accelerating their purchases. This transformation is gradually shifting Bitcoin's narrative from a high-risk speculative asset to a long-term allocation asset.

According to 10x Research data, over the past year, large holders have sold over 500,000 bitcoins (valued at over $50 billion at current prices), which is nearly equivalent to the net inflows since the approval of the U.S. Bitcoin ETF, and is not far from the accumulative scale of $65 billion over the past five years by the cryptocurrency holding pioneer Michael Saylor and his company (now named Strategy). Many sellers can be traced back to the early Bitcoin days when prices were much lower than the current levels. Some whales are not simply selling but are swapping tokens for stock-related assets through over-the-counter trades.

Edward Chin, co-founder of Parataxis Capital, stated: "What we are seeing is a rotation of underlying holdings, a less-covered driving factor is that whales are using Bitcoin as collateral to participate in stock-related financing transactions to shift their risk exposure."

Despite the whale sell-off, over the past year, institutions such as ETFs and corporate treasuries have collectively absorbed nearly 900,000 bitcoins. These institutions currently hold around 4.8 million bitcoins, accounting for 20% of the circulation. However, observers warn that while institutions bring stability to the cryptocurrency market, they could also become the long-awaited exit path for whales—if market sentiment reverses, retail and retirement investors may bear the risk.

The current main risk lies in the supply-demand imbalance: if whales resume large-scale selling while institutional inflows stall, the market could experience a sharp decline. According to 10x Research's data, in 2018 and 2022, price drops of 74% and 64% were triggered by outflows of only 2% and 9% respectively.

-- Price

--

You may also like

Do you want to buy CRCL?

A detailed breakdown of Circle's business fundamentals and valuation logic: The panic over OUSD and the market correction have triggered a short-term mispricing, presenting an opportunity for left-side positioning and legislative speculation below $60.

Wosh: Inflation has cooled in recent weeks, AI is reshaping the economy, and forward guidance has lost its necessity

Federal Reserve Chairman Waller clearly stated at the ECB forum that the Fed will abandon forward guidance on interest rates, with future decisions relying entirely on real-time economic data. He noted that inflation risks in the U.S. have decreased over the past four weeks, but the ultimate impact ...

The most secretive AI winner

A century-old company that sells toilets and produces MSG has seen its stock price soar by "positioning" core materials for AI chips. This article clarifies the explosive opportunities for domestic substitution of semiconductor materials in the A-share market.

Former ByteDance employee's account: How I started with two Pinduoduo hard drives and made six times the profit with Seagate to achieve financial freedom?

A programmer from a big tech company bought hard drives on Pinduoduo and, following clues, managed to accurately capture the sixfold rising stock Seagate using the "finding daily anomalies + 13F institutional verification" framework, making a wild profit of $400,000 and achieving financial freedom.

MiCA reshuffle begins, Binance temporarily bids farewell to the EU

What Binance leaves behind is not scattered retail investors, but a whole batch of high-value users who are forced to liquidate and have almost nowhere to go.

How does Gate redo "buying and selling stocks" from the cryptocurrency world to the stock market?

The competition logic of exchanges has changed.

Contents

Popular coins

Latest Crypto News

Read more
iconiconiconiconiconiconicon
Customer Support:@weikecs
Business Cooperation:@weikecs
Quant Trading & MM:[email protected]
VIP Program:[email protected]