Large Bitcoin holders, known as whales, have been aggressively buying the cryptocurrency despite regulatory headwinds from the stalled "Clear Act," signaling strong institutional confidence in long-term fundamentals. This demand is gradually offsetting market fears tied to policy uncertainty.

Since July 29, capital flows have shown a clear divergence. Data from Woofun AI reveals that wallet addresses holding between 10 and 10,000 Bitcoin have accumulated over 20,000 BTC, with total investments reaching $1.2 billion. Notably, these large purchases have been concentrated in the range where Bitcoin's price has been consolidating around $65,000, indicating strategic positioning by major capital near key support levels.

In stark contrast to whale accumulation, retail investors have been steadily reducing their holdings, creating a classic picture of "retail exit, institutional entry." Concurrently, Bitcoin spot ETFs have recorded net inflows, further confirming renewed institutional interest. This shift in capital structure suggests that, despite short-term policy obstacles, major players are building positions for potential price appreciation through both ETF channels and direct on-chain purchases.

Market analysts point out that if the trend of whale accumulation and retail sell-off continues, the probability of BTC breaking through the $70,000 mark, rather than testing the $60,000 support level, will significantly increase. Historical patterns suggest that changes in large holder positions often serve as leading indicators of price shifts. However, external variables such as sudden regulatory news or macroeconomic changes could still disrupt the trend, and investors should remain cautious about the inherent high volatility of digital assets.