A significant number of newly created Bitcoin whales are reportedly in possession of a record-breaking amount of BTC, giving them control over 9% of the total supply of coins. Ki Young Ju, the CEO of CryptoQuant, a blockchain analytics firm, has shared data indicating that short-term holders of Bitcoin have become a major group in the cryptocurrency market. Short-term holders are defined as individuals who have held their coins for less than 155 days. According to Ki Young Ju, these new Bitcoin whales now hold a total of 1.8 million BTC, including spot ETFs, which accounts for 9% of the circulating supply. Despite a decrease in demand for Bitcoin exchange-traded funds (ETFs), on-chain accumulation of BTC remains active. James Seyffart, an ETF expert at Bloomberg, notes that it is common for many ETFs to have zero flows on a given day, as shares of the product are only created if there is a discrepancy in supply and demand. Currently, Bitcoin is trading at $61,904, down from its recent peak of nearly $74,000.