BITCOIN WHALES LOAD UP ON $1.2 BILLION IN BTC AS ETFS ATTRACT $750 MILLION

Summary from the TLDR Crypto newsletter

Bitcoin whales and sharks (10-10,000 BTC holders) accumulated more than 20,000 BTC (~$1.2 billion) between July 29 and August 7, while US spot Bitcoin ETFs drew $754.69 million this week, the strongest weekly inflow pace since April, with over $500 million booked in August alone. Despite this combined buying pressure, BTC held near $64,910 without a breakout, with analysts characterizing the marginal buyer as "more tactical than convicted." A $120 million Coldcard hardware wallet hack on July 30 and the US Senate's expected delay on the CLARITY Act are suppressing institutional appetite, with the latter viewed as a prerequisite for broader capital deployment. Santiment's diverging accumulation data points toward a $70K+ target, though Nexo's Liya Kalchev says a decisive close above $65,000 is needed to validate any recovery thesis.