Bitcoin Hits New Heights as Institutions Drive Daily Surge
Bitcoin, the world's leading cryptocurrency, has reached new heights, with entities holding between 100 to 1,000 BTC adding over 10,000 BTC daily. This surge is largely driven by high net worth individuals and institutions, marking a shift from retail investors.
The Bitcoin market has seen a significant change in dynamics. Michael Saylor, CEO of MicroStrategy, attributes this to increasing institutional adoption. As retail holders decline, institutions are stabilizing the cryptocurrency and reducing its volatility, making it less attractive to private investors seeking price swings.
Bitcoin recently rallied to an all-time high of $125,725 before retracing to $123,859. This bullish trend is supported by institutional investors turning more aggressive. Bitcoin spot ETFs have seen a net weekly inflow of $3.24 billion. Meanwhile, small-scale traders are either priced out or disinterested despite record highs. Addresses holding less than 100 BTC have declined to cycle lows. Bitcoin ETF holdings now top 620,000 BTC, valued at $76.9 billion.
The Bitcoin market is evolving, with retail traders' supply declining since the previous bear market. As the price becomes increasingly expensive for small-scale traders, Bitcoin continues to reach historical levels, driven by institutional investors and high net worth individuals.
