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The 60-day cumulative net buying by wallets holding 100-1,000 BTC reached 73,300 BTC as of Aug. 31, on-chain analyst Amar Taha said, marking the highest level since April 21. Taha added that large-scale whales holding more than 10,000 BTC also held 43,300 BTC.
Taha said this differs from April and May, when 100-1,000 BTC holders’ net buying rose to 91,920 BTC but whales holding more than 10,000 BTC moved in the opposite direction and sold about 40,000 BTC in mid-May. Bitcoin later fell about 25%, he said, adding that the market structure now appears different from the earlier period.