Glassnode: Large entities currently hold about 4.9 million Bitcoins, accounting for 25% of the circulating supply

Glassnode said in its weekly on-chain report that large tokenized entities currently hold about 4.9 million Bitcoins, equivalent to 25% of the circulating supply. Among these entities, CEXs and ETF custodians account for the largest proportion. After the German government address sold all of its Bitcoin holdings, there seems to be a short-term relief for sellers and a renewed inflow of demand to support the market. Market profitability remains very strong, and most Bitcoin supply remains on a favorable cost basis, below the current spot price.