Key Insights:
- Market Analysts are watching stocks and ETF flows for the next Bitcoin price move.
- Bitcoin whales added 66,700 BTC as mid-sized holders continued selling.
- Long-term holders remain in loss despite a recovery in on-chain data.
Bitcoin price remained in focus after large whale wallets added about 66,700 BTC, while another group of holders sold heavily. The mixed activity comes as traders watch the United States market open, ETF inflows, and long-term holder data for signs of where the market could head next.
Bitcoin Whales Buy While Mid-Sized Holders Sell
Bitcoin Price is back in the spotlight after fresh on-chain data showed two major groups of holders taking very different positions. Data shared by CryptoQuant, analyst Amr Taha showed that wallets holding between 1,000 and 10,000 BTC added about 66,700 BTC over the last 60 days.
That is close to the 68,000 BTC recorded on June 16. It is also the strongest buying activity from this group since February 17, when net accumulation briefly moved above 106,000 BTC.
At the same time, wallets holding between 100 and 1,000 BTC continued to reduce their holdings. This group recorded net selling of about 77,800 BTC, making it one of the biggest distribution periods seen in recent months.
Those figures show that Bitcoin is moving from one group of holders to another. While mid-sized wallets are taking coins off their books, larger whale wallets are adding more.
This is not the first time activity from the 100 to 1,000 BTC group has attracted attention. On April 25, the same group bought more than 92,000 BTC. About 10 days later, Bitcoin entered a short-term correction that later reached around 29%.
The picture is different this time because instead of buying, the group is selling. The bigger holders continue to increase their positions.
The data does not guarantee where the Bitcoin Price will move next. Even so, it shows that larger holders remain willing to buy while others sell. That can reduce the amount of Bitcoin available on the market if the trend continues.
Bitcoin Price Awaits Market Reaction
The market is also watching events outside the blockchain. Market analyst Ted Pillows posted on X that Bitcoin traded around $64,245 before the United States stock market opened. BTC price stayed between $62,500 and $65,000 throughout the weekend, but stocks were closed during that period.
Because of that, he believes the opening of the cash market is an important moment. It will be the first chance to see how Bitcoin reacts when stock trading resumes. Ted Pillows said chip stocks could play a part in what happens next. If they recover, Bitcoin could make another move toward $65,000. If selling returns to the technology sector, the price could slip back toward $62,500.
He also pointed to improving market mood. The Fear and Greed Index rose to 29 after standing at 28 the previous day and 25 during the recent market sell-off. Bitcoin spot ETFs also recorded four straight days of positive inflows through Friday. The funds added $132.3 million, with BlackRock’s IBIT leading the way.
Ethereum products also returned to positive inflows with $36.7 million. Ted added that markets still expect the Federal Reserve to leave interest rates unchanged at its meeting later this month.
Long-Term Holders are Still Selling Bitcoin at a Loss
Another set of on-chain data shows that many long-term holders are still under pressure. Market analyst Darkfost said the Long-Term Holder Spent Output Profit Ratio remains below one. The measure shows whether long-term investors are selling Bitcoin for a profit or a loss.
In early July, the seven-day average dropped to 0.73, the lowest reading of the current market cycle. That meant long-term holders were selling at an average loss of 27%. The ratio has recovered to 0.94, but it is still below the break-even level. The monthly average has also remained below one since June 1, coming in at 0.88.
Darkfost noted that long-term holders have gone through similar periods in previous bear markets. Those phases usually appeared after the market had already spent some time under pressure.
For now, whale buying, steady ETF inflows, and continued losses among long-term holders present different signals. Investors will be watching closely to see how the Bitcoin price responds as the new trading week begins.
The post Bitcoin Price Faces Macro Shifts as Whales Make Massive Purchase appeared first on The Coin Republic.