Bitcoin Price Slips as Whales Accumulate

The Bitcoin price declined by 3% in 24 hours and briefly touched $63,000. However, large holders continued to accumulate coins during this period.

Data from Santiment shows that wallets holding between 10 and 10,000 BTC added 19,696 BTC over eight days. In contrast, smaller wallets holding less than 0.01 BTC showed weaker buying activity.

The influx of $222 million into Bitcoin ETFs in July also suggests that some investors see value at current levels. This accumulation by large holders is considered a constructive market setup, as supply appears to be moving toward stronger hands.