Overview

• Bitcoin is consolidating near $110,500–$111,500 after a jobs-data jolt, with traders eyeing a break above $112,000–$114,000 and watching supports around $106,000–$108,000.
• Large holders sold 114,920 BTC in the past month (about $12.75 billion), the largest whale reduction since July 2022, and some analysts caution a slide toward $100,000 if selling persists.
• Corporate and public treasuries reached roughly 840,000 BTC in aggregate, yet CryptoQuant reports a sharp slowdown in monthly buying by major accumulators compared with early 2025.
• On-chain readings are split: 7,626 BTC aged 3–5 years moved onchain, the KMFG indicator re-entered its accumulation zone after 147 days, and STH‑SOPR rose back above 1 as short‑term holders returned to profits.
• Ethereum is drawing stronger institutional interest, with more than $450 million flowing into ETH ETFs and year‑to‑date outperformance, reinforcing capital rotation away from Bitcoin.