One could argue that today's largest Bitcoin buyers are predominantly banks, institutions, and corporations. The market structure is becoming increasingly clear: retail investors are net sellers while institutional capital continues accumulating. Whether this trend holds long-term remains to be seen, but the current data paints a picture of institutional dominance on the buy side. This shift represents a fundamental change in who's driving Bitcoin's price action—the heavy hitters are stepping in while retail takes the other side of the trade.