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CoinDesk·4 min read·medium

Bitcoin whales load up on $1.2 billion in BTC as ETFs attract $750 million

O
Omkar Godbole
Bitcoin whales load up on $1.2 billion in BTC as ETFs attract $750 million
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Bitcoin whales and institutional investors via spot ETFs have significantly increased their holdings, accumulating over $1.9 billion in BTC since late July. Despite this heavy buying, the asset's price remains stagnant, suggesting that current market participants are acting with tactical caution rather than long-term conviction.

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Blockchain data tracked by Santiment shows that whales and sharks, or wallets holding 10 BTC to 10,000 BTC, have accumulated over 20,000 BTC, worth $1.2 billion at the ongoing market price, since July 29. The accumulation has happened in a narrow price range below $65,000 where the market has been trading choppily lately.

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