Bitcoin whale-to-retail ratio reaches a 9-month high as spot buying stays muted

Bitcoin's whale-to-retail ratio has climbed to its highest level in nine months, while BTC has struggled for weeks to decisively clear $82,000. Separately, spot net purchases over the past 30, 60, and 90 days total $143.79 million, $783.13 million, and $2.17 billion, signaling cautious demand despite stronger whale participation.