Listen, the Bitcoin sea’s got some big fish heading for the exit, while the midsize players are stepping up, grabbing what those whales leave behind.
It’s like the boss man’s thinning his crew, letting the underbosses and trusted lieutenants take a bigger piece of the action.
Analysts say these changes in Bitcoin ownership could rewrite the game this year.
ETF custody
Wallets holding over 1,000 BTC, those heavy-hitting whales, have been slimming down their stacks.
But addresses with 100 to 1,000 BTC, the mid-tier investors, are swelling like a rising tide.
Analyst JA Maartunn calls it “Big Fish Down, Medium Players Up,” pointing out that what once was a whale monopoly is spreading out to smaller institutional accounts, ETF custody players who want in on the action but not the headline spotlight.
Big Fish Down, Medium Players Up 🎯
Addresses holding >1,000 BTC are declining rapidly this cycle.
Meanwhile, 100–1,000 BTC addresses are on the rise.
This reflects a supply shift from large entities to smaller ETF custody wallets. pic.twitter.com/cldhnB6G7m
— Maartunn (@JA_Maartun) September 9, 2025
The market’s been in a distribution phase for over two months. Doctor Profit, one of those pseudonymous market prophets, warns that heavy selling between $115K and $125K keeps slamming the brakes on Bitcoin’s upward hustle.
#Bitcoin has now been in a distribution phase for over two months. When its not accumulation (Buying), its distribution (Selling). This heavy unloading happens in the 115K–125K region, the local top. Whales and fresh unlocked addresses CLEARLY dumping into pumps
— Doctor Profit 🇨🇭 (@DrProfitCrypto) September 8, 2025
Whales and recently unlocked wallets aren’t shy about offloading their chips into these rallies, meaning the party’s a bit uneasy.
Long-term holders
CryptoOnchain adds a spicy twist, Bitcoin’s fighting a critical test against an ascending trendline that matches the price where new whales started buying.
If Bitcoin falls below this line, experts warn the bullish story could unravel, sending prices on a long, slow slide.
But don’t be afraid, it’s not all doom and gloom. Some analysts dig deeper, saying the real peaks come with retail euphoria, like a wild workplace party with all the snacks gone and the boss still holding a clipboard.
That frenzy? Absent so far. Long-term holders keep their cool, and with global liquidity painting a promising backdrop, Bitcoin’s bull run could still have legs.
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100% gain year-on-year
On the price front, in the time of writing Bitcoin’s cruising between about $110,900 and $112,800.
Its pace is slower than last week, when prices dipped to roughly $108,799. Over seven days, BTC nudged up 1.4%, over two weeks, a firmer 1.8%.
But zoom out, and it shows a 5.6% dip over the past month, signaling a breath, the market’s catching wind after sprinting close to its all-time high of $124,457 last month.
But year-on-year? Bitcoin’s still the king, with 100% gain. Yet the tussle to reclaim the $115K to $125K range shows some serious profit-taking pressure.
The big picture’s clear, the Bitcoin ownership story is changing hands. Whether this shift propels the next bull run or signals a cautious pause, everyone’s watching. And we’re waiting.
Cryptocurrency and Web3 expert, founder of Kriptoworld
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With years of experience covering the blockchain space, András delivers insightful reporting on DeFi, tokenization, altcoins, and crypto regulations shaping the digital economy.
