Bitcoin whales have sold over 500000 coins in the past year, but ETFs and other institutions have bought over 900000 coins

According to Yahoo Finance, 10x Research data shows that over the past year, Bitcoin holders (or "whales") have sold more than 500000 bitcoins, worth over $50 billion at current prices. This is roughly equivalent to the net inflow into these funds since the approval of ETFs in the United States. Despite the whales reducing their holdings, ETFs, fund management companies, and other institutions have collectively absorbed nearly 900000 bitcoins in the past year. These institutions currently hold approximately 4.8 million bitcoins, with a total of around 20 million bitcoins in circulation.