Whales Continue Buying as Bitcoin Dips to $63K

Bitcoin briefly dipped to $63,000 before rebounding, but large holders continued buying, adding nearly 20,000 BTC in eight days. Smaller retail investors showed less interest during the pullback, indicating a cooling in retail demand.

Meanwhile, Bitcoin ETFs saw over $222 million inflows in July, and exchange-held Bitcoin dropped by about 78,000 BTC over six months, signaling a shift to long-term holding. This accumulation by whales and declining exchange supply suggest potential for stronger price moves if demand rises, though a sustained sell-off could push prices toward $58,000.