Analyst: Influenced by macroeconomic tailwinds, whales are accelerating their Bitcoin accumulation

On November 13th, according to The Block, during this week's overall consolidation in the crypto market, Bitcoin has entered a state of being confined within a narrow range. Nevertheless, analysts note that beneath the seemingly calm surface, a large-scale accumulation of chips is occurring. Simultaneously, following the largest single-day net inflow in a month, Bitcoin spot ETFs have once again witnessed a wave of redemptions. On Wednesday, Bitcoin spot ETFs saw outflows of approximately $278 million, and Ethereum spot ETFs saw outflows of around $184 million; in contrast, Solana spot ETFs recorded a net inflow of $18.06 million. BRN Research Director Timothy Misir stated: "Whales continue to accumulate, adding more than 45,000 bitcoins this week, which is the second-largest accumulation since 2025." At the current prices, this is equivalent to around $4.6 billion in fund inflows. He further added that this indicates that in a situation where fund flows are weak and market momentum is sluggish, structural positions are gradually being established. Blockchain data shows that most of these purchase behaviors are accompanied by an increase in fund transfers from exchanges to cold storage accounts, suggesting institutional positioning rather than retail speculation. After the U.S. government officially resumed operations this week following the passage of a long-delayed spending bill in the House of Representatives, ending a 41-day shutdown and releasing approximately $40 billion in delayed liquidity, it has restored some confidence in the global market, supporting what Misir described as "an improvement in the macro environment and cautious optimism in risk sentiment."