Large Bitcoin holders, defined as wallets holding between 10 and 10,000 BTC, accumulated approximately 88,987 units in just one month. Their combined holdings have surpassed 13.69 million BTC, a level not seen in the past six months. This accumulation began on September 19, despite Bitcoin dropping below $81,400. Tim Sun, senior researcher at HashKey, explained that rising borrowing costs and narrower valuation premiums have reduced corporate treasuries’ incentive to keep buying. Spot Bitcoin ETFs recorded $526.6 million in inflows on Monday, their largest daily inflow in nearly a month, but are showing net outflows of $90.57 million since early October.
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