Bitcoin whale holdings have fallen to record low levels, raising questions about market strength. At the same time, ETFs have seen significant inflows.
Decline in Bitcoin Whale Holdings
Data from Glassnode shows that entities holding between 100 and 10,000 Bitcoin now control an average of 488 BTC each, marking the lowest level since December 2018. This decline started in November 2024 and indicates that large wallets may be distributing their holdings among smaller investors or institutional buyers through ETFs.
Bitcoin ETF Transactions
On September 2, Bitcoin ETFs reported inflows of $332.8 million. Fidelity Investments contributed $132.7 million, followed by BlackRock with $72.8 million. In contrast, Ethereum ETFs recorded outflows of $128.7 million. This shift shows that investors are accumulating Bitcoin while pulling back on Ethereum positions.
Analysis of Historical Bitcoin Trends
Traders are comparing current data to historical patterns from 2017. In both August and September of 2017, Bitcoin faced key resistance levels. Analyst Ali Martinez noted that the price was rejected several times at the $110,700 mark. If it fails to break through, it could drop to $107,200 or even $103,000.
The decline in Bitcoin whale holdings and the rise in ETF interest create uncertainty in the market. Observers will watch for further changes in institutional flows and price signals as September 2025 unfolds.
