Whales Accumulating, Institutions Retreating: 270,000 BTC Inflows Over Two Weeks Reveal Potential Cycle Bottom Characteristics

Odaily Odaily reports that against the backdrop of sustained capital outflows from US institutions, Bitcoin whales have accumulated over 270,000 BTC (approximately $16.7 billion) in the past two weeks, forming a clear divergence with record outflows from US spot Bitcoin ETFs.

Analysts point out that this phased divergence exhibits historical cyclical characteristics: while institutional funds are withdrawing, long-term holders and whale accounts continue to accumulate, similar to the capital redistribution structure commonly seen near previous cycle bottoms. On-chain data shows that although the spot premium remains negative, indicating spot buying pressure is not strong, large wallets continue to accumulate Bitcoin. The market is currently in a structural phase of "institutional deleveraging, long-term capital accumulation." (CoinDesk)