How New Bitcoin Whales Are Reshaping the BTC Market Structure
On-chain data reveals new major investors control 50% of Bitcoin's realized cap; short-term holders increased holdings by 100,000 BTC in 30 days. Market impact analyzed.
3 articles
On-chain data reveals new major investors control 50% of Bitcoin's realized cap; short-term holders increased holdings by 100,000 BTC in 30 days. Market impact analyzed.
Twenty One Capital (XXI) debuted on the NYSE and fell nearly 20% on day one. The stock traded near net asset value despite a treasury of ~43,500 BTC worth about $3.9–4.0B.
In 2025, the Bitcoin-to-gold ratio dropped 50% as gold surged 63% with central bank buying and market volatility, while Bitcoin saw ETF outflows and holder sales.