Bitcoin Smashes Records—Then Hits a Wall

BTC rockets past previous ATH—just as institutional skeptics start sharpening their knives.

Volatility strikes back: The crypto king’s 20% intraday swing leaves traders gulping caffeine (and antacids).

Meanwhile, Wall Street ’experts’ suddenly remember they hate decentralized money—right as their clients start asking about allocation.

$108,857, a key player in cryptocurrency markets, reached an all-time high of $111,970 four days ago. However, it struggled to maintain its position above $110,000 shortly after hitting this peak. Over the past 24 hours, Bitcoin’s price decreased by 1.3% and was trading around $108,379.

ContentsMarket Analysis and Consolidation PhaseInstitutional Accumulation in Spot Bitcoin ETFsMajor Bitcoin Holders and Unexpected Names

Market Analysis and Consolidation Phase

According to Bitfinex analysts, Bitcoin’s current price movement is viewed as a “healthy consolidation period.” Their report suggests that structural purchases, focusing on the accumulation of long-term positions by investors rather than short-term speculative trading, drive this trend. Investors are participating in bitcoin with real capital in a measured manner through on-chain transactions.

One of the crucial developments sustaining this trend is the continued high demand for spot Bitcoin ETFs operating in the United States. Nevertheless, analysts point out that external factors, such as trade tariffs imposed by TRUMP on the global economy, also exert pressure on the market.

Institutional Accumulation in Spot Bitcoin ETFs

Over the past week, an additional $2.7 billion was invested in US-based spot Bitcoin ETFs, increasing the total Bitcoin held in these funds to 1.2 million BTC. This amount constitutes approximately 5.76% of the total market supply. BlackRock’s IBIT fund emerged as a major growth driver, attracting $2.4 billion in inflows last week.

Today, BlackRock’s IBIT ETF manages 3.1% of all Bitcoins in the market, marking it as one of the fastest-growing ETFs in history. This trend highlights the sustained interest of institutional investors in Bitcoin.

Major Bitcoin Holders and Unexpected Names

Institutional investors and individual companies continue to make significant purchases. Notably, MicroStrategy, led by CEO Michael Saylor, has made headlines with recent Bitcoin acquisitions. However, assessments indicate that neither BlackRock nor MicroStrategy stands as the largest Bitcoin holder in the market.

Bitcoin’s mysterious founder, Satoshi Nakamoto, possesses a holding worth approximately $120 billion, accounting for 5.2% of Bitcoin’s circulating supply. With this amount, Nakamoto ranks as the 11th wealthiest individual globally, holding a larger share than both institutional and individual investors.

Despite recent price fluctuations and macroeconomic uncertainties, both institutional and individual interest in Bitcoin persists. Institutional purchases made through spot Bitcoin ETFs are viewed as indicators of long-term market confidence. The rising institutional demand signals the increasing institutionalization of cryptocurrency markets. Additionally, information that a significant portion of Bitcoin supply remains in the hands of notable individual investors like Satoshi Nakamoto is seen as one of the factors shaping market dynamics.

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