Weekly On-Chain Report (July 28 – Aug 3): Whales Bought $4.4 Billion in BTC and ETH as Retail Panicked
- Weekly market recap shows a disconnect between falling prices and bullish on-chain activity
- Publicly listed companies bought over 31,000 BTC, worth $3.61 billion, last week
- New whale wallets accumulated over 225,000 ETH, valued at $819 million, during the dip
While Bitcoin (BTC) and Ethereum (ETH) saw a technical pullback in prices last week, a look behind the scenes at on-chain data shows that institutional and whale investors were doing the exact opposite: buying the dip in massive quantities.
The week of July 28 to August 3 saw BTC fall below $112,000 and ETH dip under $3,400, leading to a significant cooling of trading activity across spot and derivatives markets. However, the data reveals this was a period of quiet and heavy accumulation by some of the market’s biggest players.
Markets Cool Off Following July Volatility
Following a surge to an all-time high of $123,400 on July 14, Bitcoin entered a corrective phase, retreating by approximately 7% to the $114,000 range.
Analysts like “oinonen_t” attribute the decline to a combination of macroeconomic uncertainty, including inflation concerns and new tariff policies, and bearish technical signal…
The post Weekly On-Chain Report (July 28 – Aug 3): Whales Bought $4.4 Billion in BTC and ETH as Retail Panicked appeared first on Coin Edition.
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Weekly On-Chain Report (July 28 – Aug 3): Whales Bought $4.4 Billion in BTC and ETH as Retail Panicked
- Weekly market recap shows a disconnect between falling prices and bullish on-chain activity
- Publicly listed companies bought over 31,000 BTC, worth $3.61 billion, last week
- New whale wallets accumulated over 225,000 ETH, valued at $819 million, during the dip
While Bitcoin (BTC) and Ethereum (ETH) saw a technical pullback in prices last week, a look behind the scenes at on-chain data shows that institutional and whale investors were doing the exact opposite: buying the dip in massive quantities.
The week of July 28 to August 3 saw BTC fall below $112,000 and ETH dip under $3,400, leading to a significant cooling of trading activity across spot and derivatives markets. However, the data reveals this was a period of quiet and heavy accumulation by some of the market’s biggest players.
Markets Cool Off Following July Volatility
Following a surge to an all-time high of $123,400 on July 14, Bitcoin entered a corrective phase, retreating by approximately 7% to the $114,000 range.
Analysts like “oinonen_t” attribute the decline to a combination of macroeconomic uncertainty, including inflation concerns and new tariff policies, and bearish technical signal…
The post Weekly On-Chain Report (July 28 – Aug 3): Whales Bought $4.4 Billion in BTC and ETH as Retail Panicked appeared first on Coin Edition.
Read More