Bitcoin Whales Outpace Institutional Sellers as ETF Inflows Snap Streak

Bitcoin whales have been buying up coins while institutions were selling their holdings in Bitcoin spot ETFs. According to CryptoQuant, large whale orders arrived every day since June 30, with one tracked order reaching around 857 BTC near $63,600 on July 5.

The steady flow of big buy orders echoes earlier phases when whales hit yearly highs while smaller buyers stepped back. The Bitcoin price has risen by almost 7% over the past week.

After a 10-session outflow streak, US spot Bitcoin ETFs saw an inflow of $221.72 million on July 2, led by Fidelity's FBTC with $165.96 million and ARKB with $91.84 million. BlackRock's IBIT still saw $40.43 million leave.

The thin band overhead has less supply than the floor below, suggesting that buyers and sellers are possibly reading from the same chart. Whether this layout holds up remains to be seen.