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Viewpoint: Whale is increasing its BTC holdings, with 358,000 BTC transferred to a long-term holder address in the past month.
CryptoQuant CEO Ki Young Ju stated that BTC is currently in an accumulation phase. In the past month, 358,000 BTC has been transferred to long-term holder (permanent holder) addresses.
In July, the global BTCSpot ETF inflow was 53,000 BTC. Although not all remaining BTC are in hosted wallets, Whales are clearly accumulating at unprecedented levels.
Recently, BTC has been flowing into long-term holder addresses not because of ETF wallets. These wallets are neither exchange wallets nor miner wallets, and they have not been flowing out; most of them are hosted wallets.