According to Glassnode, wallets holding between 100 and 1,000 BTC and those holding between 1,000 and 10,000 BTC accumulated Bitcoin over the period from Nov. 2 to Nov. 9. All other wallet-size cohorts continued reducing their aggregate holdings, including wallets with more than 10,000 BTC and those with less than 1 BTC. US spot Bitcoin ETFs recorded net withdrawals in six of the seven completed trading sessions between Nov. 2 and Nov. 10, including $95 million in outflows on Nov. 10. The data indicate localized support for demand but do not establish that large-wallet purchases offset ETF withdrawals. A broader and more durable improvement would require accumulation across more wallet-size cohorts and a return to sustained net ETF inflows.
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