BITCOIN: RETAIL HOLDINGS RISE AS LARGE HOLDERS REDUCE POSITIONS Santiment data indicates Bitcoin wallets under 0.1 BTC have increased holdings by ~2.5% since the last October all-time high, with this group's supply share reaching its highest level since mid-2024. In contrast, large holders (10-10,000 BTC) have decreased their total holdings by ~0.8%. This structural divergence is often associated with choppy, range-bound price action, preventing clear trend development. Analysis suggests retail purchases provide market support and short-term momentum. However, a sustained rebound depends on large holders shifting from distribution to net accumulation. Bitcoin's price is currently in the mid-$60,000 range. The key determinant for a sustained upward trend is a cessation of whale selling pressure and a shift to structural buying. #Bitcoin #OnChainData