Bitcoin whales purchased $2.64 billion worth of BTC over the past two months, while the Royal Government of Bhutan moved 300 BTC worth $19.28 million. BTC is attempting to break into the $65k-$70k range, a zone it has failed to reclaim since late May. This strategic accumulation occurs despite a hostile macro environment with rising Treasury yields and the Nasdaq down nearly 3% for the quarter, while Bitcoin delivered a positive ROI of almost 9% over the same period. This dynamic suggests a bullish transition from short-term holders to long-term holders, potentially bullish for Bitcoin heading into Q3.
Source: Read the original article
