Bitcoin (Bitcoin) decline Back below 39,000 USD On August 2nd, this indicated that short-term traders were profiting after the price failed to close above $42,451.67.

However, as seen in late July, the lower level may attract buying again. Santiment’s data shows that Bitcoin is stored on the wallet address, storing 100 to 10,000 Bitcoins Rise to a record high It reached 9.23 million bitcoins on August 1. The previous record high for this group of investors was set on April 5, just one week before Bitcoin hit a record high of $64,854 on April 14.

Santiment emphasized that in the past four weeks, “the address has accumulated approximately 170,000 bitcoins.” A similar rate of purchases occurred in late December 2020, just before the start of the strong bull market in 2021.

Daily cryptocurrency market performance. source: Coin 360

CoinShares data shows that the assets under management of funds focused on Bitcoin have fallen $20 million last week, Fell for the fourth consecutive week. In the past month, Bitcoin funds have outflowed a total of 67.8 million U.S. dollars.

The data is not entirely bearish, as multi-asset funds attracted a cumulative inflow of US$7.5 million last week and US$11.9 million in the past month.

Can Bitcoin break through its range and lead the cryptocurrency market higher? Let’s study the charts of the top 10 cryptocurrencies to find out.