Bitcoin Demand Climbs 62,000 BTC/Month as Whales & ETFs Push Toward $116K — $160K–$200K Q4 Potential

CryptoQuant data indicates that Bitcoin on-chain demand is increasing at roughly 62,000 coins per month, a dynamic comparable to prior fourth-quarter accumulation phases. The current expansion is concentrated among whales and institutional ETFs, with large-holder balances rising at an annualized pace near 331,000 BTC versus 255,000 BTC in Q4 2024, underscoring concentrated accumulation rather than broad-based retail flows.

Exchange-traded products purchased some 213,000 BTC in Q4 2024, lifting ETF holdings by about 71%, per on-chain records. On-chain valuation metrics identify the realized price threshold at $116,000; clearing that level is presented by models as a condition for re-entering a cycle-consistent bull range, with modeled valuation bands between $160,000 and $200,000, contingent on sustained price momentum.