The latest charts show: institutions now control 9% of the total Bitcoin supply! Among them, spot ETFs account for 5.5%, and publicly listed companies like MicroStrategy account for 3.5%—this represents a reality: the rules of the Bitcoin game have completely changed. In the past few years, it was 'early bird' institutions like Grayscale that were buying; but with a batch of ETFs coming in 2024, traditional capital is rushing in directly and cannot be stopped. This structural transformation is not a short-term market trend, but a reconstruction at the asset level. A bull market is not created by emotions; it is built by these whales with real money. The liquidity of ETF holdings and the increase in holdings by publicly listed companies are key 'on-chain barometers' that must be closely monitored. #BTC #sui #TRUMP #非农就业数据来袭 #数字资产法案 $BTC $ASR $STPT