**Bitcoin Whales on the Move: Massive Accumulation Despite Market Stagnation**

Bitcoin whales, those holding over 1,000 BTC (around $64 million), have been busy in July. They've added 84,000 BTC to their wallets, even as the market shows little movement. Notably, these whales are pulling BTC from exchanges at the fastest rate since 2015, with 64,000 BTC leaving exchange balances in the past month.

According to Glassnode, this marks the largest negative net position change for exchange whales in nine years. CryptoQuant CEO Ki Young Ju highlights that whale wallets have added an average of 100,000 BTC weekly this year, a significant increase from 2021.

As of August 1, there are 1,651 whale addresses, up from 1,498 at the start of the year. Analysts are optimistic, suggesting Bitcoin may have found a new bottom above $63,000. However, resistance at $70,000 could keep BTC rangebound until September.

Stay tuned as the market evolves!