Miners and whales hold BTC as ETFs sell and price stays near $84,000 cost basis

As of December 17 2025, BTC is trading around $86,401.82, slightly above the $84,000 cost basis attributed to ETF buyers, while experiencing a multi‑week correction. Large miners, whales and new accumulation wallets are largely holding or adding to reserves, in contrast to ETFs and some institutions that are offloading BTC and contributing to selling pressure. On‑chain data shows miner reserves near 1.89M BTC and relatively stable holdings among large addresses, even as analysts warn of potential downside targets between $70,000 and $40,000 before a possible new bull phase.