In July, large investors in bitcoin, the so-called "whales", demonstrated unprecedented activity in the market, increasing their balances by 358,000 BTC. Large participants are actively buying bitcoins, despite the fact that the price of the asset is not so far from its historical highs.
An analysis of the change in the 30-day balance of permanent holders' addresses showed that 358,000 BTC had moved to these addresses over the past month, which is equivalent to about $23 billion as of July 24. These purchases surpass all previous ones in BTC volumes.
Long-term holders of bitcoin, who hold their assets for more than 155 days, practically did not sell their assets in 2024, regardless of short-term price fluctuations.

Considering these data, it is necessary to remember that the planning horizon of large participants can extend very far and should not be perceived as a signal to "buy here and now". However, this information can serve as one of the arguments to perceive the current wide range of bitcoin prices ($ 55000-72000) as a zone of accumulation of volumes, namely, the opening of positions by large participants to buy. This does not mean that prices cannot overcome the minimum in the region of $ 54000-55000, but the probability of resuming the growth of quotations increases.

At the moment, the price is declining and when overcoming and consolidating under the $62200-63000 zone, significant support may arise in a wide range around the $58000 level.