Analysis: Large funds continue to absorb Bitcoin, the market shows capital differentiation

On January 26, HODL15Capital released an icon analysis stating that over the past year or so, a clear trend of capital differentiation has emerged in the Bitcoin market. Data shows that small investors continue to net sell Bitcoin, while large fund players (such as ETFs, MicroStrategy etc.) have become the main net buyers in the market. They not only took over all Bitcoins sold by small investors but also absorbed all newly mined Bitcoins. This trend indicates that large institutions maintain high confidence in the long-term value of Bitcoin and also highlights the intensification of market capital concentration. Investors need to pay attention to the potential long-term impact this change may bring to the market.