Bitcoin is moving from long-term holders into new addresses managed by ETFs
Bitcoin ETFs, first approved by the SEC in January 2024 after more than a decade of denials, allow investors to gain exposure to BTC without the need to buy, hold, and store Bitcoin directly, avoiding the complexity of crypto exchanges and wallets. BlackRock's Bitcoin ETF alone now holds over $83 billion in assets under management.
https://finance.yahoo.com/news/bitcoin-etf-flows-save-btc-162652497.htmlThis was expected to happen after the approval of Bitcoin spot ETFs by the SEC. There's nothing we can do about it, other than try to encourage people to maintain "self-custody" of their coins. The more BTC is left at centralized exchanges, the higher the chance of big institutions and governments acquiring most (if not all) of the supply will be.
While miners and nodes are still in-charge of consensus, we can't underestimate the power of economic holders. Fortunately for Bitcoin, "Wall Street" holds only 1% (AFAIK) of the circulating supply. So there should be nothing to worry about. At least for now.