#数字资产市场动态 Recently noticed an interesting phenomenon.

Since the beginning of the year, several leading institutions have been very active in the Bitcoin market: Tether increased its holdings by 8,888 coins on January 1st, followed by Metaplanet adding another 4,279 coins on January 5th. BlackRock was even more aggressive, increasing holdings by 9,619 coins in just three days (January 6-8). Additionally, Strategy has been steadily accumulating throughout the first ten days of January, totaling 14,914 coins.

The logic behind this data is actually quite clear—the continuous accumulation by institutions in the market inevitably causes the circulating Bitcoin to shrink. The supply side is locked, and the market’s buffer space naturally diminishes. Even if there are short-term adjustments, the depth won’t be too exaggerated. That’s why recent pullbacks have appeared relatively "mild."