Bitcoin Whales Buy 39,150 BTC Worth About $3B in a Week; ETF Inflows Top $920M

Large bitcoin holders, commonly referred to as whales, added more than 39,150 coins to their positions in the seven-day period through the end of the past week, with a total value estimated at $3 billion, according to crypto analyst Ali Martinez, who cited data from Santiment Intelligence. In the same stretch, bitcoin exchange-traded funds attracted more than $920 million in net inflows. Martinez noted that the rebound has been powered mostly by whale buying, while retail investors might still be distributing. That points to a clear divergence between large and small traders. Not everyone is convinced the bull move is durable. Kevin Warsh, the newly appointed Federal Reserve chair, showed a hawkish stance at the Jackson Hole meeting, leading some analysts to caution that the bear market may not be finished. Rekt Capital warned that a pullback could come within weeks if the recent advance is only a bear-market rally. Crypto Haris sees a drop to $74,000 first, with a possible leg down to $62,000.