{"id":432866,"date":"2026-07-03T08:57:50","date_gmt":"2026-07-03T03:27:50","guid":{"rendered":"https:\/\/dripp.zone\/news\/wall-street-is-selling-bitcoin-but-the-old-holders-are-now-buying-it-back-crypto-news\/"},"modified":"2026-07-03T09:03:36","modified_gmt":"2026-07-03T03:33:36","slug":"wall-street-is-selling-bitcoin-but-the-old-holders-are-now-buying-it-back-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/wall-street-is-selling-bitcoin-but-the-old-holders-are-now-buying-it-back-crypto-news\/","title":{"rendered":"Wall Street is selling Bitcoin but the old holders are now buying it back &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div>\n<p>Glassnode&#8217;s latest Week Onchain report shows that roughly 10.83 million BTC are now in the red, against 9.22 million still in profit.<\/p>\n<p>Loss-making supply now accounts for roughly 54% of the measured total, compared with 46% still in profit, meaning underwater coins exceed profitable coins by about 1.61 million BTC.<\/p>\n<figure id=\"attachment_545579\" aria-describedby=\"caption-attachment-545579\" style=\"width: 966px\" class=\"wp-caption aligncenter\"><noscript><\/noscript><img loading=\"lazy\" decoding=\"async\" class=\"lazyload wp-image-545579 size-full\" src=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2026\/07\/brave_B1Vv50eGBE.jpg\" alt=\"Bitcoin's supply has flipped underwater\" width=\"966\" height=\"609\" srcset=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2026\/07\/brave_B1Vv50eGBE.jpg 966w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2026\/07\/brave_B1Vv50eGBE-300x189.jpg 300w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2026\/07\/brave_B1Vv50eGBE-768x484.jpg 768w\" data-sizes=\"(max-width: 966px) 100vw, 966px\"\/><figcaption id=\"caption-attachment-545579\" class=\"wp-caption-text\">Infographic showing 54% of Bitcoin&#8217;s circulating supply (10.83 million BTC) is held at a loss, exceeding the 46% held in profit by roughly 1.61 million BTC.<\/figcaption><\/figure>\n<p>Glassnode describes this as one of the <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/research.glassnode.com\/the-week-onchain-week-26-2026\/\">sharpest deteriorations<\/a> in investor profitability since the current bull market began, a threshold with real psychological weight.<\/p>\n<p>Crossing it before has coincided with genuine capitulation among newer buyers, the kind of stress that shapes a structural drawdown.<\/p>\n<p>Underwater holders are the ones most prone to <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/cryptoslate.com\/bitcoin-surged-toward-69000-after-a-brutal-flush-but-glassnode-says-one-level-decides-if-it-fades\/\" target=\"_blank\" rel=\"noopener\">selling into panic or exiting near breakeven once the price recovers<\/a>, which keeps a layer of resistance above the <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/cryptoslate.com\/market\/\">market<\/a>.<\/p>\n<p>Yet those same coins can migrate to higher-conviction buyers if patient capital is willing to absorb them, and Glassnode&#8217;s data shows exactly that kind of buyer has begun to show up.<\/p>\n<p>The seller profile is already changing underneath that stress, as Glassnode says long-term holders have started rebuilding positions, a reversal from an extended stretch of distribution, with net position change back in positive territory.<\/p>\n<p>The pace stays modest, well short of the buying waves seen in prior accumulation cycles, but the direction has turned. The first sign of a bottom often shows up here, in experienced holders deciding a drawdown is worth buying, well before <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/cryptoslate.com\/price-watch\/\">price<\/a> itself confirms anything.<\/p>\n<p><a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/cryptoslate.com\/companies\/glassnode\/\">Glassnode&#8217;s<\/a> Accumulation Trend Score climbed across multiple cohorts this week, with the strongest readings among wallets holding less than 1 BTC and entities holding 100 to 1,000 BTC.<\/p>\n<p>Wallets in the 1,000-to-10,000 BTC range also turned net buyers. <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/cryptoslate.com\/coins\/bitcoin\/\">Bitcoin&#8217;s<\/a> quiet bid is spreading across the entire ownership ladder, from the smallest wallets to mid-sized entities.<\/p>\n<p>US-traded spot Bitcoin ETFs remain in sustained net outflow territory, and that selling pressure has persisted even as on-chain conviction builds in the opposite direction. The <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/cryptoslate.com\/etf\/\">ETF<\/a> story explains why the price stays weak, while the on-chain story explains who is taking the other side.<\/p>\n<table>\n<thead>\n<tr>\n<th>Market layer<\/th>\n<th>Current signal<\/th>\n<th>What it means<\/th>\n<th>Article implication<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td><strong>ETF investors<\/strong><\/td>\n<td>Sustained net outflows<\/td>\n<td>Regulated wrappers are still de-risking<\/td>\n<td>Explains why price remains weak<\/td>\n<\/tr>\n<tr>\n<td><strong>Long-term holders<\/strong><\/td>\n<td>Net position change back in positive territory<\/td>\n<td>Experienced holders are rebuilding exposure<\/td>\n<td>Suggests supply is moving to patient hands<\/td>\n<\/tr>\n<tr>\n<td><strong>Small wallets<\/strong><\/td>\n<td>Strong accumulation among sub-1 BTC wallets<\/td>\n<td>Retail-sized holders are buying the drawdown<\/td>\n<td>The bid is not only institutional or whale-driven<\/td>\n<\/tr>\n<tr>\n<td><strong>Mid-sized entities<\/strong><\/td>\n<td>Strong buying among 100\u20131,000 BTC entities<\/td>\n<td>Larger on-chain holders are also absorbing supply<\/td>\n<td>Accumulation is broadening across cohorts<\/td>\n<\/tr>\n<tr>\n<td><strong>Large wallets<\/strong><\/td>\n<td>1,000\u201310,000 BTC wallets turned net buyers<\/td>\n<td>Bigger holders are no longer only distributing<\/td>\n<td>Confirms the seller profile is changing<\/td>\n<\/tr>\n<tr>\n<td><strong>Spot order books<\/strong><\/td>\n<td>Coinbase and Binance shifting toward bids<\/td>\n<td>Buyers are placing liquidity below spot<\/td>\n<td>A base can form even while price looks weak<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/cryptoslate.com\/companies\/coinbase\/\">Coinbase<\/a> and <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/cryptoslate.com\/companies\/binance\/\">Binance<\/a> both show books shifting toward the bid, with buyers adding liquidity below spot. That bid looks patient, which is why the price can still look weak even as a base starts to form underneath it.<\/p>\n<p>Hyperliquid traders hold a long bias at the highest level Glassnode has tracked, using leveraged exposure to bet on a bounce before spot conviction is fully confirmed.<br \/>The cash market is trying to build a floor, while the derivatives market is trying to get there first.<\/p>\n<p>Options traders are already paying up for protection: the 14-day put-to-call volume ratio climbed above 1.0, its highest reading in a year. Implied volatility is climbing too, up from depressed levels, though Glassnode stops short of calling it a panic reading.<\/p>\n<p>The market carries enough fear to begin bottoming, though the fear needed to confirm a finished capitulation may still be building.<\/p>\n<p>Put together, the pattern looks unusual for a bottoming process, and Bitcoin may be finding a floor through an unusual mechanism: ETF investors are selling while stronger, more patient hands absorb the exit in real time.<\/p>\n<div id=\"cs-inline-newsletter-6a46e7b979376\" class=\"cs-inline-newsletter\" data-inline-newsletter=\"\">\n<div class=\"cs-inline-newsletter__inner\">\n<div class=\"cs-inline-newsletter__content\"> <span class=\"cs-inline-newsletter__eyebrow\">CryptoSlate Daily Brief<\/span><\/p>\n<h3 class=\"cs-inline-newsletter__title\">Daily signals, zero noise.<\/h3>\n<p class=\"cs-inline-newsletter__copy\">Market-moving headlines and context delivered every morning in one tight read.<\/p>\n<p> <span><i class=\"fa-regular fa-bolt\" aria-hidden=\"true\"\/> 5-minute digest<\/span> <span><i class=\"fa-regular fa-star\" aria-hidden=\"true\"\/> 100k+ readers<\/span><\/p>\n<\/div>\n<div class=\"cs-inline-newsletter__form-shell\">\n<p class=\"cs-inline-newsletter__privacy\">Free. 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Welcome aboard.<\/span><\/p>\n<\/div>\n<\/div>\n<\/div>\n<p>Glassnode frames it as an early, still-developing bottoming process and flags that a final capitulation-driven volatility spike stays possible.<\/p>\n<p>Long-term holders buying also trails the scale of prior accumulation waves by a wide margin, keeping the recovery in accumulation fragile.<\/p>\n<p>Bitcoin can probably bottom without ETF inflows returning, as long as outflows slow enough to stop overpowering on-chain accumulation, and the crowded long positioning on Hyperliquid unwinds gradually through price strength.<\/p>\n<table>\n<thead>\n<tr>\n<th>Scenario<\/th>\n<th>What happens next<\/th>\n<th>Confirmation signal<\/th>\n<th>What it means<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td><strong>Bull case: controlled migration<\/strong><\/td>\n<td>ETF outflows slow while long-term holders and wallet cohorts keep accumulating<\/td>\n<td>Bid-heavy order books absorb underwater supply; Hyperliquid longs resolve through a bounce<\/td>\n<td>The transfer phase becomes the bottom<\/td>\n<\/tr>\n<tr>\n<td><strong>Base case: fragile bottoming<\/strong><\/td>\n<td>Accumulation continues, but ETF outflows and underwater supply keep rallies capped<\/td>\n<td>BTC chops sideways while loss supply stops expanding<\/td>\n<td>Bitcoin builds a base, but recovery stays uneven<\/td>\n<\/tr>\n<tr>\n<td><strong>Bear case: final capitulation<\/strong><\/td>\n<td>Crowded Hyperliquid longs get flushed while ETF outflows persist<\/td>\n<td>Implied volatility spikes and underwater holders capitulate lower<\/td>\n<td>Supply still transfers to stronger hands, but through a sharper washout<\/td>\n<\/tr>\n<tr>\n<td><strong>Failure case: accumulation fades<\/strong><\/td>\n<td>Long-term holder buying slows and cohort accumulation narrows<\/td>\n<td>Bid-heavy order books disappear; ETF outflows keep dominating<\/td>\n<td>The market was pausing inside a broader drawdown, not bottoming<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h2><a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2026\/07\/wall-street-wolf-sells-bitcoin-to-long-term-holders.jpg\"><noscript><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-large wp-image-545653\" src=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2026\/07\/wall-street-wolf-sells-bitcoin-to-long-term-holders-1024x576.jpg\" alt=\"Wall Street sells Bitcoin to long-term holders as ETF outflows meet rising accumulation by long-term BTC investors\" width=\"1024\" height=\"576\" srcset=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2026\/07\/wall-street-wolf-sells-bitcoin-to-long-term-holders-1024x576.jpg 1024w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2026\/07\/wall-street-wolf-sells-bitcoin-to-long-term-holders-300x169.jpg 300w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2026\/07\/wall-street-wolf-sells-bitcoin-to-long-term-holders-768x432.jpg 768w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2026\/07\/wall-street-wolf-sells-bitcoin-to-long-term-holders-480x270.jpg 480w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2026\/07\/wall-street-wolf-sells-bitcoin-to-long-term-holders-1200x675.jpg 1200w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2026\/07\/wall-street-wolf-sells-bitcoin-to-long-term-holders.jpg 1280w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><\/noscript><img loading=\"lazy\" decoding=\"async\" class=\"lazyload aligncenter size-large wp-image-545653\" src=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2026\/07\/wall-street-wolf-sells-bitcoin-to-long-term-holders-1024x576.jpg\" alt=\"Wall Street sells Bitcoin to long-term holders as ETF outflows meet rising accumulation by long-term BTC investors\" width=\"1024\" height=\"576\" srcset=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2026\/07\/wall-street-wolf-sells-bitcoin-to-long-term-holders-1024x576.jpg 1024w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2026\/07\/wall-street-wolf-sells-bitcoin-to-long-term-holders-300x169.jpg 300w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2026\/07\/wall-street-wolf-sells-bitcoin-to-long-term-holders-768x432.jpg 768w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2026\/07\/wall-street-wolf-sells-bitcoin-to-long-term-holders-480x270.jpg 480w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2026\/07\/wall-street-wolf-sells-bitcoin-to-long-term-holders-1200x675.jpg 1200w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2026\/07\/wall-street-wolf-sells-bitcoin-to-long-term-holders.jpg 1280w\" data-sizes=\"(max-width: 1024px) 100vw, 1024px\"\/><\/a><\/h2>\n<h2>How this plays out<\/h2>\n<p>In the bull case, ETF outflows <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/cryptoslate.com\/bitcoin-starts-h2-in-a-bear-market-as-etfs-fed-and-strategy-set-100k-or-50k-test\/\">continue but slow<\/a>, while long-term holders and broader wallet cohorts continue to accumulate through the summer.<\/p>\n<p>Bid-heavy order books keep absorbing supply from newer, <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/cryptoslate.com\/bitcoin-nearly-loses-58k-as-etf-outflows-decide-whether-inflation-relief-holds\/\">underwater holders<\/a>, and the aggressive Hyperliquid long positioning resolves through a genuine bounce.<\/p>\n<p>Bitcoin&#8217;s correction becomes a controlled migration, from ETF sellers and short-term holders into the hands of patient on-chain capital, and the transfer phase becomes the bottom.<\/p>\n<p>In the bear case, the crowded long positioning in Hyperliquid gets flushed, ETF outflows persist, and underwater holders capitulate at lower prices.<\/p>\n<p>Implied volatility spikes toward genuine panic levels, and long-term holder accumulation slows as the drawdown deepens. Bitcoin still ends up transferring to stronger hands, but through one final capitulation event.<\/p>\n<p>Bitcoin&#8217;s next bottom may begin with an unusual sequence: institutions leaving, weaker holders capitulating, and stronger hands quietly taking the other side. A bottom starts as a turnover in who owns the supply, well before it shows up in price.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Glassnode&#8217;s latest Week Onchain report shows that roughly 10.83 million BTC are now in the red, against 9.22 million still in profit. Loss-making supply now accounts for roughly 54% of the measured total, compared with 46% still in profit, meaning underwater coins exceed profitable coins by about 1.61 million BTC. Infographic showing 54% of Bitcoin&#8217;s [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":432867,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[230,225,221,227,226,228,229,60,223,224,222],"class_list":["post-432866","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency","tag-brave","tag-coinbase","tag-crypto","tag-decentralised","tag-decentralized","tag-decentralized-exchange","tag-erc-20","tag-featured","tag-meme-coin","tag-robinhood","tag-solana"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/432866","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=432866"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/432866\/revisions"}],"predecessor-version":[{"id":432868,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/432866\/revisions\/432868"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/432867"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=432866"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=432866"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=432866"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}