#大户持仓动态 $BTC

**Spot BTC Market Quick Review | December 18, 2025, 13:00 UTC**

Bitcoin has been a bit volatile these days, dropping 3.8% over 20 hours, from 89,669.55 to 86,259.99. It looks like the bears are testing the bottom, but a closer look at the indicators shows there’s still hope.

**Good news on this side:** Institutions are really entering in large numbers. Among the top 25 banks in the US, now 14 have launched Bitcoin products—which was unimaginable two years ago. Additionally, on December 17 alone, $459 million flowed into Bitcoin ETFs, indicating that big funds are not retreating but rather accumulating on dips. The MACD has surged from 70.53 to 112.54 within 6 hours, signaling a potential rebound.

**Risk signals to watch out for:** On-chain data looks concerning—6.7 million BTC are trading below cost, meaning many investors are in a loss position. Even more worrying, the number of active wallets has fallen to the lowest in the past year, showing a clear decline in network activity. RSI has dropped from 87.93 to 68.49, indicating buying momentum is waning.

**Market sentiment:** Traders are divided on Japan’s interest rate decision. Some believe it has already been digested and will have limited impact; others think policy changes could bring new pressure. Looking at whale movements, large holders are on the sidelines, waiting for clearer signals.

Short-term volatility is inevitable, but as long as institutional buying continues, there’s no need to be too pessimistic.