Whale accumulation of over 270,000 BTC. Can Bitcoin regain momentum?

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Bitcoin gains 0.11% today to $64,176

Highlights

Strategy liquidated 3,588 BTC worth $216 million to meet preferred stock payouts and raise USD reserves, marking a major supply event.
Despite $8 billion in ETF outflows over eight weeks, whales absorbed 270,000 BTC, helping to stabilize the market amid institutional selling.
BTC trades within a tight $63,417–$64,934 range, with strong short-term buyer momentum but signals suggesting likely near-term consolidation.

Large-scale corporate sales offset by whale buying amid ETF outflows

Strategy, the largest corporate holder of Bitcoin, sold 3,588 BTC worth $216 million between June 29 and July 5 to fund distributions on its preferred stock and strengthen its U.S. dollar reserves, according to Thestreet. This major supply event came as Bitcoin also faced nearly $8 billion in ETF outflows across eight straight weeks, highlighting outflows from institutional channels as reported by Etftrends. However, whale investors absorbed over 270,000 BTC around the late-June lows, offsetting selling pressure from ETF holders and contributing to broader market stabilization, as noted by Finance Biggo.

Buyer strength persists as mixed indicators define technical boundaries

BTC/USD remains supported by the MA-20 at $64,117 and MA-50 at $63,572, while strong resistance is defined by the MA-200 at $74,148 on the daily chart. The Ichimoku Kijun level at $64,174 serves as key immediate support. Among momentum indicators, the Moving Average Convergence Divergence (MACD) shows strong upside, but the Average Directional Index (ADX), Commodity Channel Index (CCI), Awesome Oscillator, and Stochastic RSI are all neutral. The Relative Strength Index (RSI) reads 56.92 (Buy) and Bull/Bear Power registers as overbought, suggesting current buyer dominance amid mixed signals on trend strength.

Sideways movement likely as volatility band limits directional risk

In the short term, BTC is expected to consolidate between $63,417 and $64,934 over the next two to three trading days. The baseline scenario anticipates sideways movement within this volatility band, with a high probability of continued upward drift and low risk of a breakdown. Upside acceleration could develop if resistance is breached, while a close below immediate support would open the way for a bearish scenario.

Viktoras Karapetjanc, expert at Traders Union, sees Bitcoin maintaining a constructive outlook despite notable corporate sales and persistent ETF outflows. He believes strong whale accumulation and recovering market capitalization counteract recent supply shocks, keeping sentiment robust. Technical indicators remain mixed, but price stability above key moving averages signals underlying demand. In his view, fundamental and macro factors continue to favor Bitcoin's resilience. "As long as buyers keep stepping in on dips and market flows stabilize, I expect BTC to grind higher from these levels."

Previously it was reported that Tesla and other major institutional holders had shifted their Bitcoin strategies with significant sales and a move away from aggressive accumulation. The current technical setup and recent whale accumulation suggest stabilization following institutional sell-offs, so traders should closely monitor the $64,174 support level as a potential pivot for further price action.

Source of Data: BTC Price Analysis by TU

The analysis is based on a proprietary model combining technical, on-chain, and expert data. Not investment advice. See methodology

The information is based on forecasts and does not constitute investment advice or a guarantee of future results. Market conditions may change. See our Disclaimer and Editorial Integrity for details.