$BTC This week, the price of BTC has fluctuated dramatically, but whether it breaks through the historic high of 100,000 USD or drops by 10,000 USD in seconds, it has not affected the continuous inflow of funds into the spot ETF. The ETF has maintained inflow throughout the five trading days this week, and the total amount of BTC held by the US spot ETF has already surpassed the holdings of Bitcoin's creator, Satoshi Nakamoto, marking an important milestone in the transition of institutions taking over from retail investors.
The output of BTC is decreasing year by year, while demand is increasing year by year. Miners should have felt this significant deficit first, and some mining companies have already begun actively replenishing their BTC reserves. Marathon Digital purchased 1,423 BTC on December 5 and 6, and yesterday increased its holdings by another 1,300 BTC, closely following MicroStrategy's steps to raise funds through bond issuance to buy more BTC. Marathon currently holds over 33,876 BTC, making it the second-largest publicly traded company holding BTC. HUT8 Mining Company is also actively raising funds to increase their BTC reserves.
According to Bloomberg analyst Eric, BlackRock's BTC spot ETF fund inflow has surpassed 50 billion USD in just 227 days, becoming the fastest ETF to reach this scale in history, while the previous record holder took 1,323 days.
In contrast, whale users have not yet shown any selling actions. Since Trump's election victory, whale groups have been increasing their BTC holdings. At the end of each bull market, we can see extreme FOMO in market sentiment, with retail investors fully entering the market, while whales begin to sell. Currently, institutions and whale groups are desperately increasing their BTC holdings, and according to Google data, retail investor sentiment has not yet exploded, remaining far from the search volumes of 2017 and 2021. Therefore, as Cathie Wood said, 100,000 USD is not the end of this bull market, but rather just a new beginning. 🤗
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