CryptoQuant: Bitcoin whales accumulate 3.03M BTC as ETF flows swing to $1.5B inflow
- —Whale holdings hit 3.03M BTC, the highest since Nov. 21, 2025
- —Bull Score Index climbed from 20 in July to 90 on Sept. 26, now at 80
- —U.S. spot Bitcoin ETF flows flipped from -$5.1B to +$1.5B
- —Large BTC-backed USDT loans rose 83.3% in September; small borrowers fell 17.2%
Why it matters: Whale accumulation and returning ETF money point to a market regime shift, though inflows remain far below last year's pace.
Source: CoinDesk Japan