Whale Buying and ETF Inflows Boost Bitcoin Despite CLARITY Act Delay
Bitcoin's price may be stuck below $65,000, but institutional investors are quietly adding to their holdings. According to Santiment, wallets holding between 10 BTC and 10,000 BTC have accumulated more than 20,000 BTC since July 29, worth nearly $1.2 billion.
This buying activity comes as U.S. spot Bitcoin ETFs attract over $750 million this week, their strongest weekly inflows since April. Liya Kalchev, a Nexo analyst, noted that ETF inflows have already crossed $500 million in August, with more than $240 million coming in on Wednesday alone.
Kalchev said institutions are buying carefully rather than chasing prices, and Bitcoin still needs a convincing close above $65,000 for a stronger recovery to begin. Meanwhile, smaller investors have been selling, contributing to the weaker retail participation.