Analyzing the largest investor entities, Glassnode shows that it is in fact centralized exchanges and the United States spot Bitcoin exchange-traded funds (ETFs) that hold the most sway over BTC price movement.
Exchanges still hold over 3 million BTC as of July 2024, while the ETFs have 887,000 BTC in assets under management. By contrast, known miner-affiliated wallets hold around 705,000 BTC.
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