Bitcoin News Today: Bitcoin Whale Owen Gunden Dumps Entire $1.3B Stack as Institutions Tighten Grip on ETFs

One of Bitcoin’s earliest and wealthiest holders has liquidated his entire BTC stack, even as institutional ownership of U.S. spot Bitcoin ETFs climbs to record highs amid a deteriorating market backdrop.Blockchain data from Arkham Intelligence shows that Bitcoin OG Owen Gunden — once among the eight richest individuals in crypto — has sold his full 11,000 BTC holdings (worth roughly $1.3 billion) since Oct. 21. His final transfer of 2,499 BTC, valued at $228 million, was sent to Kraken on Thursday.The move comes during one of Bitcoin’s most bearish stretches of the current cycle, as retail panic deepens and major wallets reduce exposure.Key TakeawaysEarly Bitcoin whale Owen Gunden sold 11,000 BTC (~$1.3B) since Oct. 21, fully liquidating his holdings.Final tranche: 2,499 BTC (~$228M) sent to Kraken on Thursday.Bitcoin market sentiment has hit “extreme bearish”—Bull Score Index at 20/100.Despite fear-driven selling, institutional ownership of U.S. Bitcoin ETFs has surged to 40%.BTC is trading near $86,444, down sharply from its recent highs.Gunden Liquidates Entire Bitcoin FortuneGunden’s liquidation marks one of the largest individual BTC sell-offs of 2025.According to Arkham:11,000 BTC sold since late October~$1.3B total realized valueFinal 2,499 BTC transferred to Kraken for liquidationWallet now fully emptiedGunden rose to prominence during Bitcoin’s earliest era, operating as an arbitrage trader across exchanges including Tradehill and the now-fallen Mt. Gox. He accumulated tens of thousands of BTC through high-volume trading between 2011 and 2014, establishing himself as one of the most influential early adopters.Arkham still ranks him among the world’s wealthiest crypto figures with an estimated net worth of $561 million, though now no longer holding Bitcoin. Market Fear Accelerates as Bull Score Hits Extreme LowsGunden’s exit coincides with one of the sharpest downturns in market sentiment this cycle.According to CryptoQuant’s Bull Score Index:Score has fallen to 20/100,Categorized as “extreme bearish”,The lowest level of Bitcoin’s 2025 market structure.Analysts say this reflects:Declining whale confidenceBroad risk-off positioningRising concerns that the 2025 bull market may have endedBitcoin is currently trading at $86,444, more than 30% below its October peak of ~$126,000.Institutions Quietly Tighten Control of Bitcoin ETFsDespite panic among retail traders and billions in ETF outflows, institutions are steadily increasing their ownership share of U.S. spot Bitcoin ETFs.According to Bitcoin analyst Root:Institutional ownership hit 40% on Wednesday,up from 27% in Q2 2024,based on the latest 13-F filings.Root noted that this figure is conservative because:Only firms with >$100M AUM are required to fileMany smaller institutional buyers go unreportedThis suggests actual institutional penetration may be significantly higher.Institutions Are Holding While Retail SellsDespite:$2.8 billion in outflows from U.S. spot Bitcoin ETFs in November (Farside Investors)Retail panic and short-term capitulationinstitutions appear to be holding their positions, reducing the likelihood of systemic forced selling from large professional funds.The Big PictureWhile mega-whale Owen Gunden has fully exited Bitcoin after more than a decade, institutional players now hold a record 40% of spot BTC ETF supply — a structural shift that suggests long-horizon investors are accumulating even as retail sentiment collapses.Market analysts say Bitcoin may still face volatility as bearish momentum persists, but institutional inflows and ownership concentration indicate the ecosystem is becoming increasingly dominated by professional capital rather than early adopters.