Bitcoin Whales Never Stopped Buying: Is Wall Street the Last to Catch On?

Bitcoin is being accumulated by whales even as institutions only recently began to reverse a prolonged selling trend. On-chain data shows large spot buy orders arriving daily since June 30, while U.S. spot Bitcoin ETFs ended a 10-day outflow streak with $221.7 million in net inflows on July 2. The shift followed weak U.S. payrolls data, which may have softened rate-hike expectations. Glassnode’s URPD suggests relatively thin supply overhead near $64,373, while heavier buyer clusters sit below around $61,849 and $60,587, implying stronger support than resistance. Overall, the article paints a cautiously bullish setup: whales were first to buy, institutions may be following, and Bitcoin’s near-term path may depend on whether price can clear the low-supply band above.