{"id":129224,"date":"2026-08-04T22:05:18","date_gmt":"2026-08-04T22:05:18","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=129224"},"modified":"2026-08-04T22:05:18","modified_gmt":"2026-08-04T22:05:18","slug":"bitcoin-holds-key-support-as-on-chain-data-shows-fresh-accumulation","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=129224","title":{"rendered":"Bitcoin Holds Key Support as On-Chain Data Shows Fresh Accumulation"},"content":{"rendered":"
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Bitcoin finished July on a strong note before losing momentum at the start of August with two straight daily closes below $63,000. The decline has raised fresh caution even as blockchain data points to steady buying around current price levels.<\/p>\n

That buying activity became clearer in recent on-chain data, which shows roughly 155,000 BTC moved into the $62,000 to $65,000 cost-basis range during the latest pullback. The zone now holds the largest concentration of supply across the market and represents about 0.7% of Bitcoin\u2019s circulating supply.<\/p>\n

Accumulation Continues Despite Price Weakness<\/h2>\n

According to the recent Bitfinex report, the supply cluster expanded<\/a> while prices declined instead of shrinking through broad selling activity. The report said the pattern suggests buyers absorbed selling pressure rather than existing holders leaving the market in large numbers.<\/p>\n

The data also highlights different behavior between long-term and short-term holders during the recent decline. Long-term holders continued accumulating Bitcoin, while many short-term holders reduced positions near their purchase prices.<\/p>\n

Despite those signs of accumulation, broader market activity has become more subdued. Bitcoin entered August after recording a 7.3% gain during July, which matched historical seasonal trends for the month. However, spot trading volumes have fallen to levels last seen in late 2023.<\/p>\n

Market Sentiment Turns More Cautious<\/h2>\n

Institutional demand also weakened as U.S. spot Bitcoin exchange-traded funds recorded<\/a> a combined net weekly outflow of $61.5 million. That result ended three consecutive weeks of positive inflows and reflected softer demand from large market participants.<\/p>\n

The options market has also turned more defensive as participants paid higher premiums for downside protection. Even so, implied volatility remains close to multi-year lows, suggesting expectations for relatively limited price swings.<\/p>\n

Beyond market positioning, broader economic conditions continue influencing sentiment. Second-quarter GDP expanded 1.5%, while private domestic demand rose 3.9%, driven by consumer spending and AI-related investment.<\/p>\n

Inflation also remains a focus after personal consumption expenditures prices increased at a 5.1% annualized pace. Meanwhile, the 10-year real yield reached 2.41%, placing it only nine basis points below a level some analysts consider important for non-yielding assets.<\/p>\n

The post Bitcoin Holds Key Support as On-Chain Data Shows Fresh Accumulation<\/a> appeared first on CryptoPotato<\/a>.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Bitcoin finished July on a strong note before losing momentum at the start of August with two straight daily closes below $63,000. The decline has raised fresh caution even as blockchain data points to steady buying around current price levels. That buying activity became clearer in recent on-chain data, which shows roughly 155,000 BTC moved […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-129224","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/129224","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=129224"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/129224\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=129224"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=129224"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=129224"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}