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Zoye

07/29 14:51

Whales and retail wallets show strength as others

Whales and retail wallets show strength as others retreat

Despite changing tides, large holders and retailers continue to hold onto the market. 

Checkonchain data shows a -63.27K BTC drop in the Whale 1K–10K BTC to Exchange Balance metric, indicating fewer whale deposits and more self-custody.newplot-18-768x331.png

At the same time, MegaWhale Exchange Balance also declined by -19.6k BTC. When whale deposits into exchanges dip, it suggests that whales are withdrawing more BTC from exchanges than they are depositing. 

Retail participants echoed this trend. On the 29th of July, Exchange Netflow across all platforms dropped to -442.8 BTC, signaling higher outflows than inflows.Bitcoin-Exchange-Netflow-Total-All-Exchanges-4-768x432.png

Historically, increased accumulation by large holders and retail has preceded higher prices as upward pressure mounts
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