The
#BTC market is entering a zone of structural pressure where on-chain and institutional signals converge.
📉1️⃣ Major players increase inflow to exchanges According to
#CryptoQuant : The exchange ratio of major players reached 0.64 — the highest since 2015. This means that the top 10 wallets account for 64% of BTC inflow to exchanges. Historically, this indicator signals potential supply pressure. 🏦 2️⃣ Hedge funds reduce BTC-ETF positions According to MacroMicro ( citing CF Benchmarks ): In Q4 2025, hedge funds reduced their BTC-ETF positions by 28% quarter-over-quarter. Reasons include: