Summary of this article
Institutional investors reduce Bitcoin holdings, triggering market caution.
ETFs offload $2.8 billion, weakening Bitcoin’s recovery momentum.
Bitcoin trades near $103,600 amid cautious investor sentiment.
After a turbulent October, Bitcoin is facing difficulty in regaining momentum. At present, it is trading near $100,000, showing only a tentative recovery. Recent shifts in the market have also slowed its momentum.
Some of the largest institutional investors, which includes exchange-traded funds (ETFs) and corporate treasuries, have reduced their Bitcoin holdings in recent weeks. According to reports, spot Bitcoin ETFs have offloaded about $2.8 billion over the past month, removing a key source of support that had previously helped sustain the price of Bitcoin. This decline has made the market more cautious, but it hasn't caused widespread panic.
According to a report in Bloomberg, institutional investors have been a major force supporting Bitcoin throughout much of 2025. ETFs contributed more than $25 billion in inflows, which brought their total holdings to roughly $169 billion. These steady investments helped Bitcoin in a portfolio diversifier and a potential hedge against economic uncertainty.
On-chain data also shows that long-term holders have been selling into short-term strength. While much of the speculative leverage was cleared during October’s market drop, further declines could force additional selling from investors with weaker balance sheets.
Some professional investors are showing signs of losing patience after Bitcoin’s modest gains this year. Markus Thielen, CEO of 10X Research and former portfolio manager at Millennium Management LLC, told Bloomberg that if prices start trending downward, risk managers may advise institutional clients to reduce their holdings. In particular, if Bitcoin gets close to important technical levels like $93,000, such actions could intensify selling pressure.
Large holders, referred to as whales, include early adopters, institutional accounts, and exchanges. Many wallet transfers are made for custody or liquidity management rather than as a choice to leave the market. As such. not all wallet movements signify selling.
At the time of writing, Bitcoin was trading at $103,600, following a drop to as low as $100,836 a day earlier, according to Coinmarketcap data. The cryptocurrency has shown a mixed recovery in recent sessions that reflects continued caution among investors. Despite the slowdown of the cryptocurrency market, Bitcoin has gained tremendously over the last 18 months.
