The total holdings of BTC by large entities have increased to the level of July 2022

CryptoQuant analysis found that due to the firm accumulation of digital assets by large entities, their total BTC holdings have increased to the level of July 2022. The BTC holdings of these entities have significantly increased from 3.694 million in December 2022 to 3.964 million at the time of writing this article. Analysts stated that the increase in Bitcoin holdings by large investors is related to the rise in Bitcoin prices, as it indicates a continuous growth in investment demand. Some of the large entities accumulating BTC are new spot Bitcoin ETFs, excluding Grayscale GBTC. They have become a major source of demand for leading digital assets and hold approximately 300,000 BTC at the time of writing this article. Furthermore, despite continued accumulation by large entities, sales activities by Bitcoin miners remain low; over the past few weeks, miners have been selling less than 100 BTC per day compared to levels exceeding 1,000 BTC between November and December 2022.