2025 was weak in price. But it was huge in Bitcoin transfer.🚨

Companies added ~489 thousand BTC.

Funds and ETFs totaled ~205 thousand BTC.

Governments increased ~135 thousand BTC.

Meanwhile, individuals SOLD around 696 thousand BTC. More than in 2024.

Hand rotation in its purest essence.

Sideways year, strong corrections, and constant noise created the perfect environment for FUD. Negative narrative, regulatory fear, macro risk, alarmist headlines.

Those who sold were investors pressured by informational noise.

Those who bought were participants with a long horizon and strong balance.

Classic transfer.

Weak hands distribute.

Structured entities (whales) accumulate.

2025 was yet another test of conviction.

The retail investor was overshadowed by volatility and excess narrative.

Bitcoin did not stay still in 2025.

It changed owners.