In 2025, the holding structure of Bitcoin (BTC) has shown intriguing changes. On-chain data indicates that overall market volatility has decreased, but capital flows and structural shifts are becoming key variables influencing BTC price trends.
According to Santiment data, since July, the number of retail wallets holding less than 0.1 BTC has increased by approximately 3.3%, while whale wallets holding between 10 and 10,000 BTC have only grown slightly by 0.36%. This clear contrast reflects that after the price surged to a local high, some large holders chose to reduce their positions at high levels, while retail investors continued to buy the dip during the correction phase.
Meanwhile, throughout most of 2025, Bitcoin has been continuously flowing out of exchanges, indicating that more BTC is being transferred to long-term holding addresses. Even as prices fluctuate within a range, this trend remains unchanged, leading to a certain “disconnection” between Bitcoin supply and price performance.
Unlike in the past, retail buying power has strengthened but has not immediately translated into price increases. One important reason is the change in the “water reservoir” of funds. In the second half of the year, the supply of ERC-20 stablecoins has continued to rise, suggesting that capital remains within the crypto market but is mostly in a wait-and-see or standby mode.
Additionally, trading focus is shifting from spot markets to derivatives. The proportion of futures and perpetual contract trading volume has increased, and the impact of open interest (OI) on short-term BTC prices has become more significant. Naturally, the importance of spot demand has been partly replaced by leveraged trading, which also amplifies market volatility.
In the year-end market, forced liquidations are occurring frequently, intensifying Bitcoin’s price fluctuations and further highlighting that the current market structure is heavily influenced by positions and leverage.
Looking ahead to 2026, 2025 may mark a more mature phase for the Bitcoin market. Future trends are more likely to reward patience and long-term allocation rather than emotional chasing of gains. Prices will eventually return to a reasonable range, though the pace may slow down—and this may not necessarily be a bad thing.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Bitcoin’s Most Dangerous Pattern Just Triggered: Will BTC Dump to $26K Next?
Although bitcoin has already dumped by over 50% from its all-time high of over $126,000 marked in October to a multi-year low of $60,000, the asset’s troubles might not be over, warned Merlijn The Trader.
The popular analyst indicated that the “most dangerous bitcoin pattern just completed phase
CryptoPotato9m ago
BTC fell below 66000 USDT
Gate News bot message, Gate market shows that BTC has fallen below 66000 USDT, current price is 65996.5 USDT.
CryptoRadar42m ago
Bitcoin Price Soars to $74K, but Investors Are Already Eyeing New Altcoin GCoin This Week
Bitcoin’s price surged above $74,400 today, marking a multi-week high and reigniting optimism across the broader cryptocurrency market, as evidenced by the rise in altcoins.
The rally came amid renewed buying pressure, a wave of institutional demand, and yet another behemoth purchase by Michael
CryptoPotato48m ago
Bitcoin Volatility Rising Again — Investors Are Turning to Everlight Shards for Passive BTC Rewards
Bitcoin opened 2026 with a brief window of relative calm — and then the market remembered what it does best. Geopolitical tensions, a derivatives market running on elevated leverage, and a macro environment still digesting shifting interest rate expectations have combined to push Bitcoin’s
CryptoPotato56m ago
BTC & ETH Entering a New Era? Analysts Say Yes — This Platform Is Already Paying Real BTC Rewards
Grayscale called it the “dawn of the institutional era.” Bitwise predicted Bitcoin will break its four-year cycle and set new all-time highs. Bitcoin Suisse published a scenario where Bitcoin approaches $180,000 and Ethereum reaches $8,000 on the back of Fed rate cuts and accelerating institutiona
CryptoPotato1h ago
BTC fell 0.61% in 15 minutes: The net inflow to exchanges and outflow of ETF funds resonated, causing short-term selling pressure.
2026-03-29 22:00 to 22:15 (UTC), the BTC price fell 0.61% over 15 minutes. The price range was 66,230.0 to 66,716.0 USDT, with a volatility of 0.73%. During the period, market fluctuations intensified, attention increased noticeably, and capital flows moved in sync with the downward price trend.
The main drivers of this unusual move are sustained net inflows of large on-chain funds to exchanges and continuous net outflows of ETF funds. From 22:00 to 22:15, major trading platforms’ BTC/USDT trading volume rose by about 30% compared with the prior 15 minutes, and net on-chain inflows were 8,420
GateNews1h ago
