Bitcoin Whales Accumulate 270,000 BTC Worth $16.7B Over Two Weeks as U.S. ETF Sees Record Outflows

According to on-chain data, Bitcoin whales have accumulated over 270,000 BTC (approximately $16.7 billion) in the past two weeks amid record outflows from U.S. spot Bitcoin ETFs. This divergence reflects a structural shift in market dynamics: while institutional capital retreats, long-term holders and whale wallets continue to accumulate, mirroring capital reallocation patterns typically seen at cycle bottoms.

Despite negative spot premiums indicating weak on-chain buying pressure, large-wallet addresses remain net buyers. Market analysts note the current phase represents a "structural rebalancing" of institutional deleveraging alongside long-term capital inflows.