Major Bitcoin Holders Invest $1.2 Billion in BTC, While ETFs Attract $750 Million
Data from Santiment shows that since July 29, large Bitcoin holders (wallets with 10-10,000 BTC) have accumulated over 20,000 BTC, worth $1.2 billion, primarily below $65,000. This accumulation by key players, contrasted with selling by smaller holders, increases the likelihood of Bitcoin reaching $70,000 rather than falling below $60,000. Contributing factors include uncertainty from the Coldcard wallet hack, which saw $120 million stolen, and stagnation in prices affecting small investors. Meanwhile, U.S. spot Bitcoin ETFs attracted approximately $754.7 million this week, marking their best performance since April. Analysts note this represents a sharp reversal from June's record outflows, signaling renewed institutional interest. However, Bitcoin's spot price has not yet seen a significant surge despite these inflows, suggesting the current buyers may be tactical rather than confident. Analysts indicate a decisive move above $65,000 is likely needed for a sustained recovery. Legislative hurdles, such as the unlikely passage of the CLARITY Act by the U.S. Senate this month, also remain as potential headwinds for broader institutional adoption.
cryptonews.ru08/07 13:33