- Bitcoin broke through US$110,000 for a new all-time high, gaining 6% weekly and 26% monthly as Trump’s tariff threats fade.
- US spot Bitcoin ETFs added US$1.04 billion over three trading days, now holding 5.68% of total supply with BlackRock’s IBIT leading.
- This bull market is driven by institutional investors rather than retail FOMO, with corporate treasuries and hedge funds absorbing supply from long-term holders.
- Analysts warn the real danger comes when long-term holders stop selling, as demand could falter and force early adopters into holding again.
Bitcoin is on a mission today. After making a new all-time high earlier – breaking through the US$110k (AU$170k) barrier – it is currently trying to hold above that level. This follows a 6 per cent gain on the weekly chart and a 26 per cent rally over the past month.
As Trump’s tariff threat fades – at least for the moment – markets are increasingly optimistic, fuelling the BTC rally. And institutional buyers are taking note as well. The US spot Bitcoin exchange-traded funds (ETFs) have added US$1.04 billion (AU$1.61 billion) over the past three trading days.
They now hold 5.68 per cent of all supply, a solid 1,192,504 Bitcoin, with the largest ETF, BlackRock’s IBIT, holding more than half – with 638,824 Bitcoin under management.
Time to FOMO Buy-In?
So, with these ATHs, you might be wondering whether retail investors are now experiencing a touch of FOMO (fear of missing out) and starting to buy the top?
Some may – but 10X Research analysts say not all do.
OG holders are slowly selling their holdings, most likely to institutional investors. Texas, for example, has just passed a Bitcoin reserve bill which now needs to be signed-off by the governor – and that’s just one of the many examples of institutional interest.
Related: Singapore Dollar Stablecoin XSGD Debuts on XRP Ledger in Ripple-Powered Payments Push
Shut Up and Take My Money
As the analysts from 10X have put it, this bull market, there’s a new investor in town:
In each of Bitcoin’s five bull markets, a new cast of promoters has taken the stage: from cypherpunks and libertarians to hedge fund titans and corporate CEOs.
10X ResearchNow, the likes of Strategy’s Michael Saylor and BlackRock’s Larry Fink are the new Bitcoin bulls – and even former sceptics, like JPMorgan’s Jamie Dimon, are warming up to BTC.
Large Holders Are Stepping Aside
The analysts wrote in a recent note that this isn’t “panic selling”, rather it’s “calculated, disciplined portfolio rotation into the hands of high-net-worth individuals, hedge funds, and corporate treasuries like MicroStrategy”.
So, this time around it is institutional players, not retail frenzy, quietly propping up Bitcoin’s rally by absorbing supply, keeping whale deposits low and volatility muted.
The analysts say the real danger comes once long-term holders cease selling:
That’s when demand falters, absorption fails, and early adopters turn into forced holders once again. We saw it in March 2024. We saw it again in January 2025. The signal was clear both times—and we turned bearish accordingly.
10X ResearchRead also: Scammed to Scammer: Aussie Banker Used Insider Knowledge to Steal $500k
Credit: Source link
