Cryptoquant: #Bitcoin is in an accumulation phase. Over the past month, 358 thousand BTC have been transferred to the addresses of permanent holders. In July, global inflows of spot ETFs amounted to 53 thousand BTC. While not all of the remaining BTC are in wallets, whales are clearly piling up. And this is an unprecedented level.

Bitcoin's current accumulation phase is evident from the significant increase in BTC transferred to long-term holders. The rise in global spot ETF inflows further indicates growing interest. Whales accumulating BTC at this level is unprecedented, highlighting strong bullish sentiment in the market.