Bitcoin Holdings Shift to Institutions, Liquidity Tightens: Glassnode

Almost 30% of Bitcoin is now held by institutions and companies, moving coins out of everyday wallets.

Fewer coins on exchanges suggest people are holding for the long term instead of trading actively.

Unrealized losses around 10% show some stress in the market, hinting at who might sell during dips.

Bitcoin’s market is shifting as companies and institutional investors increasingly hold larger portions of the supply. According to Glassnode, public companies own about 1.07 million BTC, governments hold around 0.62 million BTC, U.S. spot ETFs have 1.31 million BTC, and exchanges keep roughly 2.94 million BTC. Together, these groups control nearly 5.94 million BTC, representing almost 30% of the circulating supply.

As per the X post, Bitcoin is gradually moving out of everyday wallets and into the hands of companies and institutional investors. This shift could make the market more stable over time. Analysts are keeping a close eye, as these corporate holdings seem to be shaping Bitcoin’s long-term price movements.

Source: Glassnode

Over the last five years, companies have been steadily adding Bitcoin to their treasuries. In comparison, government holdings have stayed small and mostly unchanged. U.S. spot ETFs have also grown significantly since early 2024, showing that institutions are increasingly investing through regulated products.

Simultaneously, there has been a modest decrease in the quantity of Bitcoin that is now on exchanges. This implies that rather than aggressively trading their coins, more people are retaining them for a lengthy time

The price of Bitcoin generally follows this accumulation trend, though there are occasional dips. As a result, market sentiment now seems to be driven more by institutional behavior than by casual retail traders.

Unrealized Loss Trends and Market Stress

Data from CryptoVizArt.₿ shows the current $80K–$90K consolidation range is generating stress comparable to January 2022. Relative Unrealized Loss is approaching 10% of market capitalization. Historically, unrealized losses spiked during BTC price drops in 2022 and early 2023, leaving many holders in paper losses.

Source: CryptoVizArt.₿

As Bitcoin’s price bounced back through 2023 and 2024, fewer holders were at a loss, meaning more people were in profit. Still, small dips occasionally happened during short-term price swings, which is normal market behavior.

Additionally, tracking unrealized losses helps investors gauge sentiment and the proportion of holders vulnerable to selling pressure.

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