Large Bitcoin Holders Bought Over 270,000 Bitcoins ($16.7 billion) over the past two weeks, coming as U.S. institutions withdrew money at a record pace.
Spot Bitcoin exchange-traded funds (ETFs) in the United States lost $4.06 billion in June, their worst month since listing, surpassing the previous record of $3.56 billion set in February 2025.
Outflows pushed funds into the red for all of 2026 for the first time, and these products ultimately saw an inflow of $221 million on Thursday.
Large wallets, often called whales, have gone the other way, analysts at crypto exchange Bitfinex shared with CoinDesk in a Friday note. They added more than 270,000 BTC over two weeks, while the spot premium, which measures how strongly US buyers are bidding, remained negative, meaning the buying was not coming from spot desks.
Institutions selling and large holders accumulating at the same time is the trend that has manifested itself near past cycle lows, where long-term holders withdraw coins from sellers before any rally hits the price.
