@calvinii
On-chain Bitcoin data in Sep 2025 reveals strong institutional confidence: whales accumulated $3B+ BTC (30K coins) early month, driving exchange outflows (e.g., Binance -51K BTC reserves) to multi-year lows, signaling HODLing over selling.
Dormant whales reactivated 7.5K+ BTC without exchange inflows, indicating strategic repositioning amid Fed rate cut hopes.
ETF net inflows hit $40B YTD, boosting dominance to 64%, though minor outflows hint short-term volatility.
Overall, bullish for $120K+ rally.
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