On-Chain Data Indicates Decreased Buying Pressure from Institutions and Selling Pressure from Whales, Analysts Say

Several on-chain metrics are indicating changes in capital flows and investor behavior in the Bitcoin (BTC) market.

On January 20th, Ki Young Ju, CEO of CryptoQuant, highlighted the ongoing demand for Bitcoin among institutional investors. Custodial wallets in the US, holding between 100 and 1,000 BTC (excluding exchange and miner holdings), have seen an increase of 577,000 BTC (approximately $53 billion) over the past year, indicating a continued inflow of funds.

According to on-chain data, since the approval of the spot ETF in January 2024, these types of wallets...