Bitcoin News Today: Bitcoin's Bull Market: Institutional Holdings and ETF Surge Fuel Resilience

Bitcoin's bull market structure remains intact despite recent volatility, with on-chain data indicating sustained accumulation by large holders, according to a FXStreet report. The firm's analysis highlights that the "Dolphin" cohort—wallets holding 100–1,000 BTC—controls 26% of the supply, or 5.16 million BTC, and has been a consistent driver of upward momentum in prior cycles. While short-term demand from this group has slowed, analysts argue the cycle is in a late-stage maturity phase, not a definitive end, as described in a BeInCrypto analysis.

Tesla Inc. and SpaceX, both led by Elon Musk, continue to hold substantial Bitcoin reserves. Tesla's Bitcoin holdings, valued at $1.31 billion, generated an $80 million profit in Q3 2025 due to price appreciation, according to a TheCoinrise report. The company has not bought or sold Bitcoin since 2022, maintaining its position as the 11th-largest corporate holder, per the FXStreet piece. Meanwhile, SpaceX's holdings—8,285 BTC valued at $1.02 billion—have grown despite a 70% reduction in 2022 during a crypto market downturn, as TheCoinrise notes. These strategic reserves underscore institutional confidence in Bitcoin as a hedge against inflation and a liquid alternative to cash, a theme explored in BeInCrypto's analysis.

The approval and growth of Bitcoin and Ethereum ETFs in 2025 have further solidified institutional adoption. U.S. BTC and ETH ETFs now manage over $175 billion in assets, with BlackRock's iShares Bitcoin Trust (IBIT) holding $86 billion alone, according to an a16z report. This shift has stabilized prices and expanded market depth, with ETFs accounting for 6.81% of BTC's total supply. Analysts predict this trend will continue, potentially doubling institutional holdings within two years, as the a16z report suggests.

CryptoQuant warns that Bitcoin's next move hinges on Dolphin accumulation rates. The cohort's annual holdings growth of 907,000 BTC exceeds the 365-day average of 730,000 BTC, signaling structural strength, according to a Benzinga report. However, the Liquidity Inventory Ratio (LIR) has fallen to 8.3 months, indicating limited liquidity to cover near-term demand, the FXStreet piece notes. For Bitcoin to retest $126,000 and reach new highs, analysts stress the need for renewed accumulation, per BeInCrypto.

The a16z 2025 State of Crypto report highlights a $4 trillion market driven by stablecoins, ETFs, and blockchain scalability, as detailed in the a16z report. Stablecoin transactions now exceed $46 trillion annually, reinforcing the dollar's global dominance. Meanwhile, XRP's potential to surge is tied to ETF approvals, with projections suggesting a 50% capture of Bitcoin ETF inflows could push its price to $18.42 per token, according to a Coinedition analysis.

Bitcoin's trajectory remains bullish despite near-term challenges, with corporate holdings, ETF adoption, and Dolphin accumulation underpinning long-term confidence. While short-term corrections are possible, the market's structural fundamentals—bolstered by institutional participation and regulatory clarity—suggest the bull cycle is far from over, as the FXStreet and BeInCrypto pieces conclude.