Bitcoin, ETH ETFs see $1.7B outflow but whale buying softens the price impact
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Key takeaways:
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Spot Bitcoin and Ethereum exchange-traded funds (ETFs) recorded a combined $1.7 billion in weekly outflows.
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Solana and a select few altcoins continued to attract steady inflows despite market weakness.
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Onchain data shows that large whales are accumulating BTC, which has kept BTC prices above the $100,000 level.
Spot Bitcoin (
“Great Whales” accumulate 36,000 BTC
According to Uphold’s head of research, Dr. Martin Hiesboeck, some long-term Bitcoin holders are liquidating positions to rebuy through ETFs for tax advantages and greater flexibility, while others are reallocating into broader blockchain projects.
Onchain data from CryptoQuant reinforced this behavioral shift, revealing a marked redistribution of Bitcoin holdings between Oct. 24 and Nov. 7, 2025. During this period, mid-sized investors (“Dolphins,” holding 100–1,000 BTC) sharply reduced their accumulation from 173,982.8 BTC to 81,453.5 BTC, while “Great Whales” (holding over 10,000 BTC) more than doubled their holdings, resulting in a net increase of over 36,000 BTC.
This steady accumulation by high-capital entities has helped anchor Bitcoin above the $100,000 level. The data signaled a gradual transfer of supply to stronger holders, preserving a structurally bullish long-term foundation for Bitcoin despite the underlying ETF-driven turbulence.
Related: End to US gov’t shutdown sparks institutional buying, ETF ‘floodgate’ hopes
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
