Retail investors' holdings of BTC continue to decrease.

Currently, the total amount of BTC held by CEX has dropped to 2.4 million, a reduction of over 360,000 since the beginning of 2025, equivalent to approximately $4.28 billion.

In the past 24 hours, among the top five exchanges by BTC holdings, only OKX showed a net inflow, possibly related to its newly launched BTC treasure product (a principal-protected interest-bearing financial product with flexible deposits and withdrawals), which may attract large investors, but the specific impact remains to be confirmed. ​​​

This means that retail investors are selling, while large investors or institutions are accumulating, leading to a concentration of market control among large players.

In the future, BTC may only be seen as a mixed asset by retail investors, as they no longer hold any BTC.