Bitcoin Whales Add 66,700 BTC While Mid-Tier Wallets Continue to Distribute

Key takeaways: Traders are tracking the U.S. market open, spot ETF flows, and on-chain holder behavior for the next directional move in Bitcoin. Bitcoin remained under close watch after fresh on-chain data showed large holders accumulating while a separate cohort continued selling. The split comes as investors look to the start of the U.S. trading week, recent ETF inflows, and long-term holder metrics for clues on near-term price direction. On-chain data cited by CryptoQuant and analyst Amr Taha indicates wallets holding 1,000 to 10,000 BTC accumulated roughly 66,700 BTC over the past 60 days. That total sits near the 68,000 BTC level observed on June 16 and marks the strongest buying by this group since February 17, when net accumulation briefly exceeded 106,000 BTC. In contrast, wallets holding 100 to 1,000 BTC continued trimming exposure, logging net sales of about 77,800 BTC—one of the largest distribution phases in recent months. The figures point to a transfer of supply from mid-sized holders to larger whale wallets. The 100–1,000 BTC cohort has been a notable signal in prior episodes. On April 25, the same group bought more than 92,000 BTC, and around 10 days later Bitcoin entered a short-term correction that ultimately reached roughly 29%. This time, the behavior has flipped from buying to selling, while larger holders keep adding. The data does not determine the next move in Bitcoin’s price, but continued whale accumulation could tighten available supply if it persists. Macro drivers are also in focus. Market analyst Ted Pillows wrote on X that Bitcoin traded near $64,245 ahead of the U.S. stock market open. BTC stayed within a $62,500–$65,000 range over the weekend, a period when equities were closed. Pillows said the cash-session reopen would be the first test of how Bitcoin trades alongside stocks again. He highlighted chip stocks as a potential catalyst: a rebound could help push Bitcoin back toward $65,000, while renewed selling in technology could drag it toward $62,500. He also pointed to modestly improving sentiment, with the Fear and Greed Index rising to 29 from 28 the day before, after touching 25 during the recent selloff. Spot Bitcoin ETFs extended a run of inflows, posting four consecutive positive days through Friday. Total net inflows reached $132.3 million, led by BlackRock’s IBIT. Ethereum products also returned to net inflows, adding $36.7 million. Pillows added that markets continue to price in the Federal Reserve holding rates steady at its meeting later this month. A separate on-chain metric suggests long-term holders remain under pressure. Analyst Darkfost said the Long-Term Holder Spent Output Profit Ratio (SOPR) is still below 1, indicating long-term investors are selling at a loss. In early July, the seven-day average fell to 0.73—the lowest reading of the current cycle—implying average losses of about 27%. The ratio has since recovered to 0.94 but remains below break-even. The monthly average has also stayed under 1 since June 1, at 0.88. Darkfost noted that similar stretches have occurred in prior bear markets, typically after an extended period of stress. For now, heavy whale buying, steady ETF inflows, and persistent losses among long-term holders are sending mixed signals as traders monitor how Bitcoin responds into the new week. The post Bitcoin Price Faces Macro Shifts as Whales Make Massive Purchase appeared first on The Coin Republic.