Analyst: Influenced by favorable macroeconomic factors, whales are accelerating their accumulation of Bitcoin

In the context of the overall sideways movement in the cryptocurrency market this week, Bitcoin has been caught in a narrow range of fluctuations. However, analysts point out that beneath the surface calm of the market, large-scale accumulation of chips is taking place.

Meanwhile, after experiencing the largest single-day net inflow in a month, Bitcoin spot ETFs have once again seen a wave of redemptions. On Wednesday, approximately $278 million flowed out of Bitcoin spot ETFs, while Ethereum spot ETFs saw outflows of about $184 million; in contrast, Solana spot ETFs recorded a net inflow of $18.06 million. BRN research director Timothy Misir stated, "Whales continue to accumulate, with over 45,000 Bitcoins added this week, marking the second-largest accumulation since 2025." At current prices, this amounts to about $4.6 billion in capital inflow. He added that this indicates that structural positions are gradually being established amid weak capital flows and sluggish market momentum.

Blockchain data shows that these purchases are mostly accompanied by an increase in withdrawals from trading platforms to cold storage accounts, indicating that this is institutional positioning rather than retail speculation. After the U.S. government officially reopened this week following the long-delayed passage of the spending bill in the House of Representatives, ending a 41-day shutdown and releasing about $40 billion in delayed liquidity, a certain level of confidence has been restored in the global market, supporting what Misir described as "improved macro conditions and cautiously optimistic risk sentiment."