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Key takeaways:
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Since 2024, spot ETF inflows and outflows have been the strongest driver of Bitcoin’s green and red days.
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With exchange balances near multi-year lows, any sizable order travels farther through the book.
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Large holders often split trades or use OTC desks, muting visible “wallet-moved” shocks.
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Funding rates, open interest, the dollar and yields often shape the day’s direction more than any single wallet.
Everyone “knows” whales move Bitcoin (BTC), and they can still jolt prices.
Since spot exchange-traded funds (ETFs) arrived,…
