Bitcoin holder dynamics in 2025 indicate a significant shift, with ETF outflows accelerating and retail investors increasing their holdings. Wallets containing less than 0.1 BTC have grown by 3.3% since July, while large holders have only increased their holdings by 0.36%. Exchange reserves have hit record lows, with over 2 million BTC withdrawn this year, pointing to a trend towards self-custody and long-term holding. Despite the strong absorption of supply, Bitcoin's price remains range-bound, with current inflows and outflows having minimal impact on its movement. This trend suggests a potential reshaping of market dynamics in 2026, as retail accumulation and self-custody become more prominent.