According to Odaily Planet Daily, Glassnode stated in its weekly on-chain report that large entities have been marked to currently hold about 4.9 million bitcoins, equivalent to 25% of the circulating supply. Among these entities, CEX and ETF custodians account for the largest proportion.

After the German government address sold all of its Bitcoin holdings, there appears to be a relief for sellers in the short term, as well as a renewed inflow of demand to support the market.

Market profitability remains very strong, with the majority of Bitcoin supply remaining held at a favorable cost basis below the current spot price.