According to the data of the Santiment analytical platform, since July 29, large bitcoin holders classified as "whales" and "sharks" (owners of wallets with a balance of 10 to 10,000 BTC) have accumulated more than 20,000 coins. According to the current market value, this volume is estimated at about $ 1.2 billion. The accumulation process took place in a narrow price range below the $65,000 mark, where the market has recently shown increased volatility. Representatives of Santiment noted that against the background of this trend of accumulation by key market participants and simultaneous asset allocation by small holders, the probability of reaching a price mark of $ 70,000 or higher becomes statistically higher compared to the risk of falling below $ 60,000.

Analysts explained that such divergent trends are largely related to the Coldcard hardware wallet hacking incident, which began its active phase on July 30. As a result of exploiting the vulnerability, the attackers managed to withdraw funds worth about $ 120 million. In addition, the uncertainty surrounding the adoption of the CLARITY Act bill in the United States and the prolonged stagnation of quotations act as additional catalysts for apathy and a decrease in activity on the part of microinvestors, which stimulates their exit from positions.

Capital flows to exchange-traded investment funds (ETFs) also indicate a tentative recovery in institutional demand. According to the SoSoValue aggregator, during the reporting week, American spot bitcoin ETFs attracted $754.69 million in investments. This indicator suggests that this week will be the most successful for these financial instruments since April of this year. Liya Kalchev, an analyst at the Nexo crypto platform, focused on the obvious shift in the structure of institutional flows. According to her, spot bitcoin ETFs raised more than $500 million in August, with inflows of funds recorded throughout the week, including a one-time inflow of over $240 million on Wednesday. This dynamic represents a sharp reversal of the trend compared to June, which was the worst month in the entire history of these funds.

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The material has been prepared solely for informational purposes and does not constitute financial advice or recommendation.