MEXC CEO Vugar Usi Zade contends that Bitcoin has entered a sustainable bull cycle characterized by institutional confidence and adoption, distinguishing the current market from previous speculative phases.
According to Zade, "The cryptocurrency market has entered a sustainable bull trend, fundamentally different from the speculative cycles of previous years." Bitcoin has recovered 32% over the last 90 days, though it remains below its October 6, 2025 all-time high of $126,000.
Whale Accumulation and Exchange Outflows
Large Bitcoin holders have intensified accumulation activity. Lookonchain reported that five new wallets received 1,162 BTC worth approximately $96.77 million from Wintermute within 12 hours.
Bitcoin exchange outflows have deepened significantly, with $116.14 million in weekly spot net outflows recorded at the time of reporting. This reduction in exchange-held supply reflects more withdrawals than deposits, limiting the amount of Bitcoin readily available for sale.
Zade remarked that "large Bitcoin holders have stopped selling, and coins are now flowing en masse into long-term accumulation wallets."
Institutional Investment Products and Corporate Holdings
Institutional participation remained elevated across Bitcoin investment vehicles. Spot Bitcoin ETFs recorded $175.69 million in daily net inflows, with cumulative ETF net inflows reaching $57.68 billion and total ETF assets standing at $109.03 billion. Daily ETF trading volume reached $2.36 billion.
Corporate accumulation also remained significant, with 60 publicly traded companies collectively holding 1.27 million BTC valued at approximately $105.53 billion. The most recent weekly corporate accumulation totaled 3,341.07 BTC worth roughly $288.94 million.
Zade identified $80,000 as a crucial institutional cost basis, suggesting established investors have reinforced that level as Bitcoin's underlying support.
