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Bitcoin whales go shopping again: accumulate 20,000 BTC since late July

Whales have accumulated more than 20,000 BTC since July 29, while U.S. spot ETFs have attracted $754.69 million this week. Two signals close to $1.95 billion, but with Bitcoin still blocked below $65,000.

Portfolios holding between 10 and 10,000 BTC have added more than 20,000 BTC since July 29.

U.S. spot Bitcoin ETFs received $754.69 million this week, their best pace since April.

Bitcoin still needs to close clearly above $65,000 to confirm a lasting recovery.

Whales collect 20,000 BTC as the market stalls

Bitcoin hasn’t taken off yet. However, behind the scenes, large wallets are accumulating. Yesterday, Cointribune already highlighted a record whale accumulation in major cryptocurrencies. Santiment’s new data now narrows the picture: addresses holding between 10 and 10,000 BTC have added more than 20,000 BTC since July 29.

Santiment also notes sales among smaller holders. The analytics firm estimates that this divergence increases the likelihood of a move back above $70,000 rather than a drop below $60,000. This interpretation is still a scenario, not a certainty. A whale may accumulate to invest long term, hedge a position, or reorganize its assets.

One more caution: mechanically adding the $1.2 billion accumulated on-chain and the ETF flows doesn’t prove that $1.95 billion in entirely different capital has arrived. The two series measure different phenomena. Their convergence, however, suggests demand is waking up across multiple channels at the same time.

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