🚨*Large Bitcoin Holders Added $5.4B in BTC in July*👀👀👀$BTC
- *Accumulation characterized by bargain hunting*: Large Bitcoin holders added over 84,000 BTC in July, the highest since October 2014, per IntoTheBlock
- *Bargain hunting during price dip*: The accumulation was characterized by bargain hunting during the early July price dip to under $55,000 and brief pauses in the subsequent recovery to $69,000
- *Biggest single-month tally in BTC terms since October 2014*: Large holders, or addresses owning at least 0.1% of BTC's circulating supply, snapped up over 84K BTC, worth $5.4 billion at the current market price
- *Strategic accumulation likely indicates a strong belief*: The strategic accumulation likely indicates a strong belief that the prolonged consolidation phase between $50,000 and $70,000 will eventually end with a bullish breakout, extending the initial rally from $16,000 ¹.