BlackRock increased its Bitcoin holdings by roughly $900M during a concentrated buying window in early January 2026, data show, while on-chain metrics recorded long-term Bitcoin selling at levels not seen since 2017.
Reported flows indicate BlackRock added about $900M of Bitcoin and took in $371.9M on a single day — 6 January 2026 — as part of broader purchases that totaled roughly $1.027B across Bitcoin and Ether over Jan. 6–8, 2026. These transactions were concentrated into the firm’s iShares Bitcoin Trust (IBIT), which now holds more than 777,000 BTC, according to the available figures.
Traders and treasuries will see this as a transfer of supply from retail or shorter-term holders into institutional balance sheets. The size and timing of the flows suggest institutions were opportunistic during the recent pullback, converting market volatility into long-duration positions.
The moves came amid a three-day period when combined BTC and ETH purchases exceeded $1.027B, highlighting renewed institutional demand as Holder behavior shifted toward patience, according to on-chain analysis.
Long-term holders, unrealized profits and supply dynamics
On-chain analysis showed long-term holders — defined as addresses holding BTC for more than six months — reduced selling to lows last seen in 2017. These holders were sitting on nearly 350% unrealized profits in early January 2026, a level that historically has at times triggered profit-taking as prices approached certain psychological thresholds (the analysis noted a historical pressure around the $99,900 mark).
However, data indicate that profit-taking pressure had effectively reset during late 2025 and into early 2026, leaving long-term holders less inclined to liquidate. The result has been upward price pressure as institutional demand absorbed supply that might otherwise have reached exchanges or less-stable custodians.
For traders, the key operational implication is a tighter supply backdrop combined with concentrated institutional bids, which can amplify directional moves on lower-than-expected liquidity. For corporate treasuries and allocators, the trend underscores the growing capacity of ETF-style vehicles to accumulate inventory and hold for the long term.
Investors and market makers will now watch flows and long-term holder behavior closely; any reversal in LTH selling or a sudden shift in ETF flows could reintroduce volatility.
