Bitcoin's Major Investors Exit: Large Holder Supply at Lowest Since May 2025

crypthub

about 2 hours ago

Investor Behavior Analysis

On-chain data reveals Bitcoin investors are distributing, with large holders' supply share reaching a multi-month low. Santiment analyzed retail (0-0.01 BTC) and key investors (10-10,000 BTC), showing contrasting trends. Retail traders expanded holdings by 2.5% since October, despite market declines, while large investors sold during drawdowns.

Market Trajectory Contrast

Key investors sold alongside the October-December drawdown, with a steep selloff in late December sharper than Q4 2025’s phase. Despite Bitcoin’s recent recovery to $67,400, large holders remain bearish, holding 0.8% less than October’s peak. Retail accumulation has not offset institutional outflows, limiting rally potential.

Mid-Tier Holder Activity

Mid-tier holders (0.01-1 BTC) saw a 1.05% supply increase, hitting a 15-month high, while 1-10 BTC holders reduced holdings by 0.49%. Santiment noted that without large investor support, rallies may face limitations. Bitcoin’s current price reflects partial stabilization but lacks strong bullish conviction from major stakeholders.