Bitcoin whales buy $1.2B worth of bitcoin as ETFs see $750M inflow

[Jammy01]

I came across this news on coindesk and it's saying that wallets holding between 10 and 10k BTC have added more than 20k BTC worth around $1.2 billion, since July 29
And US spot Bitcoin ETFs have seen around $754 million in inflow this week

Though it feels somehow that there's no too much pump in price with this amount of inflow
What do you think this mean for Bitcoin?
What's your thought on the news?

[Dr.Bitcoin_Strange]

I came across this news on coindesk and it's saying that wallets holding between 10 and 10k BTC have added more than 20k BTC worth around $1.2 billion, since July 29
And US spot Bitcoin ETFs have seen around $754 million in inflow this week

Though it feels somehow that there's no too much pump in price with this amount of inflow
What do you think this mean for Bitcoin?
What's your thought on the news?

Yes, Santiment reports shows that whales are accumulating more and more Bitcoin (BTC19,610) while retailers dump. The value of the Bitcoins added to those wallets is far higher than the $754 million that is said to be the new inflow on US ETF, but some articles and also a report on this Coindesk are spreading propaganda that the recent hack on Coldcard is the reason US Bitcoin ETF got such inflow because they assume some investors are migrating from self custody.

It's good to verify some information before believing it's true. The accumulation is probably going to lead price to go to $70k.

[Japinat]

It's good to verify some information before believing it's true. The accumulation is probably going to lead price to go to $70k.

Thats what the article said, but I would not be too bullish at this stage. Although whales are accumulating, there are also smaller holders selling, so for now it looks like the buying and selling pressure are just balancing each other. Normally we see a stronger price move when there is some good news or new hype that brings more buyers into the market. So far there doesnt seem to be much of that yet. And I think the Coldcard hack is still affecting market sentiment, so I would rather wait for a clearer signal before becoming too bullish.

[Joy_learns_crypto]

Major U.S. funds managed by BlackRock, Fidelity, Grayscale, Morgan Stanley and others have received a total of $626 million in fresh cash following news of the hack on Friday, according to data from Farside Investors.

Above quote it can be seen that a total of $626 million cash in follow but with this new development the amount has gone up to a staggering $754 million.
People are claiming the increase is caused by coldcard hack.

What this means for bitcoin is increase growth of holders and adoption, it is a good thing and not all good things immediately affect the market to pump the price.

[Sanitough]

Major U.S. funds managed by BlackRock, Fidelity, Grayscale, Morgan Stanley and others have received a total of $626 million in fresh cash following news of the hack on Friday, according to data from Farside Investors.

Above quote it can be seen that a total of $626 million cash in follow but with this new development the amount has gone up to a staggering $754 million.
People are claiming the increase is caused by coldcard hack.

What this means for bitcoin is increase growth of holders and adoption, it is a good thing and not all good things immediately affect the market to pump the price.

This could be because the market is more stable now. Bad news does not automatically create FUD anymore, so people dont panic as easily as before.

And maybe we can also thank institutional investors because many people look at what they are doing and follow their moves. There are still whales too, and people watch them as well.

The logic is simple, if someone is willing to spend billions after everything that happened, then it means they still have strong confidence in the market. And with the current price still around half of the ATH, they probably see it as a good entry price.

[pawanjain]

There have been inflows and outflows for quite a while and so I don't think it's more of a big deal now.
ETFs are good for price pump as they hold large amounts of BTC for a long term but we can't really conclude such inflows as a bullish sign.
There are outflows at regular intervals too and so we must look at the overall chart and look at the bigger picture to analyse the trend.

[Odusko]

I came across this news on coindesk , and it's saying that wallets holding between 10 and 10k BTC have added more than 20k BTC worth around $1.2 billion, since July 29
And US spot Bitcoin ETFs have seen around $754 million in inflow this week

Though it feels somewhat that there's not too much pump in price with this amount of inflow
What do you think this means for Bitcoin?
What's your thought on the news?

Yes, Santiment reports show that whales are accumulating more and more Bitcoin (BTC19,610) while retailers dump. The value of the Bitcoins added to those wallets is far higher than the $754 million that is said to be the new inflow on the US ETF, but some articles and also a report on this Coindesk are spreading propaganda that the recent hack on Coldcard is the reason US Bitcoin ETF got such inflow because they assume some investors are migrating from self custody.

It's good to verify some information before believing it's true. The accumulation is probably going to lead the price to go to $70k.

This surge in the inflow of ETFS positions is expected at least with the recent trust issues with coldcard and it resultant effects at least whales want to have an institutions to hold responsible if anything happen to the Bitcoin, also having an insurance unlike what happened to cardcold customers whose loses are not insured, this is what we shove looking out for and the traffic Flow to Bitcoin ETFS Will continue before any resentment in near future.

[BALIK]

What do you think this mean for Bitcoin?
What's your thought on the news?

The most interesting thing to me is that there is no price pump.
If price does not increase much after all this buying pressure, then there is meaningful supply absorption somewhere, right?
So, it could be bearish, because seller are still strong.
It could also be bullish, because market is quietly absorbing supply.

However, $1.2B in whale accumulation doesn't necessarily mean $1.2B of new demand. So I would treat it as accumulation signal. I would not consider it as perfect buying-pressure measurement at all.

The same is true for ETF. ETF inflow is certainly important. Because there is actual demand for BTC exposure.
But is BTC's price determined solely by absolute dollar value of ETF inflows? Obviously not.
How much BTC is being sold at the same time, liquidity, leverage and what is the macro risk appetite these all matter too.

You may know that last June US spot Bitcoin ETF went through 13 session outflow streak totaling around $4.4B. So a few days of inflow cannot be called trend reversal.

[lombok]

This surge in the inflow of ETFS positions is expected at least with the recent trust issues with coldcard and it resultant effects at least whales want to have an institutions to hold responsible if anything happen to the Bitcoin, also having an insurance unlike what happened to cardcold customers whose loses are not insured, this is what we shove looking out for and the traffic Flow to Bitcoin ETFS Will continue before any resentment in near future.

Indeed, the fear of the weakness of cold wallets has compelled huge investors to resort to structured ETFs. Insurance guarantee, legal certainty of a custodian institution can give a feeling of security, which is not available in the self storage. Although the early crypto passion was all about the sovereignty of individuals, whale capital flows put the main focus on ensuring risk avoidance and the certainty of the law in terms of losses that should be immediate and physical in case of technical disruptions.

[Franctoshi]

I came across this news on coindesk and it's saying that wallets holding between 10 and 10k BTC have added more than 20k BTC worth around $1.2 billion, since July 29
And US spot Bitcoin ETFs have seen around $754 million in inflow this week

Though it feels somehow that there's no too much pump in price with this amount of inflow
What do you think this mean for Bitcoin?
What's your thought on the news?

As of last month or two, it was bearish news, and if you were in a panic mode, I guess some people sold their Bitcoin because of fear. Now you can see what the whales are doing currently. They create FUD so you can sell, and they buy it up. Only fools will be selling their Bitcoin at this point of the year when Bitcoin is about to see its bottom at 60k, and if Bitcoin hasn't bottomed out already. I have witnessed two bear market seasons and how the pattern played; therefore, I will never be tricked again because of ignorance then.

[X-ray]

Though it feels somehow that there's no too much pump in price with this amount of inflow
What do you think this mean for Bitcoin?
What's your thought on the news?

Bullish for bitcoin. ETFs buying barely impact the price is to be expected, the AP who issued new share of the ETFs usually like to hedge the asset and when they need to acquire new Bitcoin for their newly issued share they'd do it through OTC therefore the minimum impact.

I honestly doubt it was because the Coldcard incident and thought of it more because the Semiconductors ETFs selloffs.