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Bitcoin whales add $1.2B in BTC as spot ETF inflows near $755M

U.S. spot bitcoin ETFs pulled in $754.7 million this week, putting them on track for their strongest week since April, while analysts said BTC needs a decisive close above $65,000 for a sustained recovery narrative.

Reported · Written up by our desk · Bitcoin

CoinDesk reports that bitcoin whales, defined as wallets holding between 10 and 10,000 BTC, have accumulated more than 20,000 BTC, worth about $1.2 billion, since July 29. The buying has occurred in a relatively tight range below $65,000 where BTC has been trading choppily.

At the same time, CoinDesk says U.S.-listed spot bitcoin ETFs recorded $754.69 million in inflows this week, which would mark the funds’ strongest week since April if the pace continues. The article also cites SoSoValue data for the weekly ETF flow figure.

CoinDesk links the broader backdrop to uncertainty around the stalled CLARITY Act and to reported complications tied to a Coldcard hardware wallet hack that began July 30, with the hacker allegedly taking $120 million in bitcoin. It notes Santiment’s observation that large players continued accumulating while smaller holders have been dumping.

While on-chain accumulation and ETF demand have increased, the article says BTC’s spot price has not yet delivered a meaningful rally, according to cited analysts. CoinDesk reports that a decisive close above $65,000 is needed for a sustained recovery narrative.

Latest closeBitcoin $64,314.48 ▲0.1%

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