Bitcoin News Today: Bitcoin Price Falls 4% as Whales Accumulate 160K BTC

Bitcoin’s price has recently fallen over 4% to around $113,000, breaking below a key support range of $114,672–$115,734 [1]. The decline has been accompanied by bearish technical indicators, including a “death cross” on the 4-hour chart and negative funding rates, which have raised concerns among traders about further short-term weakness [1]. However, on-chain data suggests a more optimistic narrative is unfolding behind the price action [1].

Analysis from CryptoQuant reveals that long-term holders have accumulated 160,000 BTC in the past 30 days, significantly outpacing the 13,500 BTC supplied by miners over the same period [1]. This surge in accumulation is being driven by what are often called “whales”—large investors or institutional players—who are purchasing Bitcoin at lower levels [1]. According to the Bitcoin Demand from Accumulator Addresses indicator, addresses that have only bought BTC without selling have seen their holdings increase by about 50,000 BTC in the last month [1]. These figures suggest a strong conviction in Bitcoin’s long-term value, even as the price remains in a consolidating phase [1].

Further evidence of bullish positioning can be seen in the sharp decline in large off-exchange transactions. The number of BTC held by major institutional desks has dropped to 145,000 BTC, a 74% decline from the peak of around 550,000 BTC recorded four years ago [4]. This suggests that large players are not offloading their holdings, but rather holding or increasing their positions during the dip [5].

While short-term holders have been fluctuating near lower profit levels, indicating partial selling or mid-term pressure, long-term holders remain highly confident in Bitcoin’s ability to hedge against inflation [1]. CryptoQuant noted that the overall trend remains bullish, driven by this sustained accumulation and a lack of panic selling [1].

Looking ahead, the market is bracing for further volatility as the Bank of England is set to announce its official bank rate policy this week, with expectations of a cut from 4.25% to 4% [1]. A rate cut could potentially rejuvenate Bitcoin’s bullish momentum. Meanwhile, Wall Street analysts are already projecting a potential Federal Reserve rate cut in September, particularly in light of growing economic pressure from President Donald Trump [1].

Technically, Bitcoin has been trading within a falling logarithmic trendline since reaching an all-time high of around $122,838 in mid-July [1]. Although last week’s drop briefly pushed the price below this trend, it has since rebounded. The 4-hour MACD indicator has flashed a buy signal, and the RSI has bounced from oversold levels, suggesting that recent selling pressure may be exhausting [1].

Despite the near-term bearishness, the broader bullish case for Bitcoin remains intact, with large players continuing to accumulate and no signs of major offloading. Investors are encouraged to closely monitor on-chain activity, as it often provides early signals of market direction not yet reflected in price action [1].

Source:

[1] Whales Buy 160K BTC as Bitcoin Price Dips Below $115K (https://coinedition.com/bitcoin-on-chain-data-whales-buy-160k-btc-dip/)

[4] Bitcoin Mining Toughens As Price Sinks To $113K (https://www.mitrade.com/insights/news/live-news/article-3-1007872-20250803)

[5] A Bitcoin whale opened a $45M 40x long that liquidates at ... (https://www.mitrade.com/insights/news/live-news/article-3-1008163-20250804)