According to CryptoSlate, citing a Glassnode report on November 11, during the seven-day observation period ending November 9, two cohorts holding 100 to 1,000 BTC and 1,000 to 10,000 BTC shifted to net accumulation, while other holding-size cohorts continued to reduce their positions. This metric excludes exchange and miner entities, and cannot be used to determine the ultimate ownership of the funds. The report also cited Farside data showing that U.S. spot Bitcoin ETFs saw a net outflow of $95 million on November 10. The on-chain accumulation score and ETF fund flows are not from the same entity and cannot be directly offset against each other.