Bitcoin Takes a Hit, But Big Money Stays Put
Bitcoin dropped about 5.5% last week, sliding from $110,000 to under $106,000. The dip came as tensions between Israel and Iran flared up, spooking investors into safer bets. It’s one of those moments where headlines scream “sell,” but the real story might be a little different.
Because while prices wobbled, the big players—institutions, corporations—didn’t seem too bothered. On-chain data suggests they were still loading up on Bitcoin and even some altcoins. Maybe they see this as a blip, not a trend.
ETFs Keep Pulling in Cash
Spot Bitcoin ETFs had another strong week, adding a combined 12,662 BTC—worth roughly $1.35 billion. BlackRock’s iShares Bitcoin Trust led the pack, scooping up 10,337 BTC alone. Ethereum ETFs weren’t left out either, with inflows hitting 191,057 ETH (about $501 million). Again, BlackRock dominated there too.
It’s interesting. Prices dip, but the money keeps flowing in. That doesn’t exactly scream panic. If anything, it looks like institutions are treating this as a buying opportunity.
Whales Aren’t Backing Down
MicroStrategy, never one to sit still, grabbed another 10,100 BTC ($1.05 billion). Metaplanet, a smaller player, added 1,112 BTC. Over on the Ethereum side, SharpLink bought a staggering 176,271 ETH ($462 million). Even individual whales got in on the action, with one snapping up 67,408 ETH.
There were also some big moves between wallets—like a 26,000 ETH transfer from Coinbase to Wintermute. When you see that kind of activity, it’s hard to argue that the big money is running scared.
Stablecoins Tell a Story Too
The stablecoin market grew by $1.27 billion last week, mostly on Tron and Ethereum. Tron added $1.38 billion in USDT and USDC, while Ethereum saw $1.12 billion in inflows. Avalanche, though, lost $768 million—odd, given its recent momentum.
It’s a mixed bag. Some chains are bleeding, others are growing. Maybe it’s just money shifting around, looking for better yields or safer bets.
User Activity: Some Up, Some Down
Base, a Layer-2 network, saw daily active addresses jump 77%, with transactions up nearly 6%. Avalanche had a 74% spike in transactions, even as active addresses dropped. Hyperliquid’s TVL climbed almost 13%, but its user activity took a hit.
Ethereum? Steady TVL, but fewer daily users. Solana, on the other hand, gained ground in both TVL and active addresses.
So what’s the takeaway? Prices dipped, sure. But underneath, there’s still demand—big money isn’t flinching. Maybe that says more about where things are headed than the short-term noise.
