Bitcoin whales have accumulated approximately $1.2 billion in BTC, while spot Bitcoin ETFs attracted nearly $755 million in inflows this week, suggesting renewed demand from large investors.

Blockchain activity and ETF data indicate that major market participants are increasing their exposure to Bitcoin, helping provide support as concerns grow over delays surrounding the CLARITY Act.

Santiment data shows that whales and sharks — wallets holding between 10 BTC and 10,000 BTC — have purchased more than 20,000 BTC since July 29. At current prices, the accumulated coins are worth around $1.2 billion. The buying activity occurred while Bitcoin traded below $65,000 in a relatively tight range marked by limited momentum.

Santiment noted that the contrast between large holders accumulating and smaller investors selling has improved the outlook for a move above $70,000 compared with a potential decline below $60,000.

The firm said the difference in behavior between investor groups is partly connected to the recent Coldcard hardware wallet exploit, which began on July 30 and has led to about $120 million in Bitcoin losses. It added that uncertainty surrounding the CLARITY Act and Bitcoin’s lack of a strong price breakout have contributed to weaker sentiment among smaller holders.

Meanwhile, spot Bitcoin ETF flows are showing signs of improving institutional appetite.

Data from SoSoValue reveals that U.S.-listed spot Bitcoin ETFs recorded $754.69 million in inflows this week, marking their strongest weekly performance since April if the trend continues.

Nexo analyst Liya Kalchev said institutional activity has been the clearest area of improvement in the market. She noted that spot Bitcoin ETFs have attracted more than $500 million in August so far, with inflows accelerating throughout the week and Wednesday alone accounting for over $240 million.

Kalchev said the renewed ETF demand represents a significant reversal from June, when the funds suffered their worst monthly outflow period on record.

Despite stronger accumulation from whales and increased ETF buying, Bitcoin’s price has remained largely unchanged and has not yet produced a major rally. Kalchev suggested that this gap between demand and price performance reveals that many current buyers may be acting cautiously.

She said the market may need Bitcoin to break and hold above the $65,000 level before a stronger recovery trend can develop.

Bitcoin’s technical indicators continue to hint at potential upside, but uncertainty surrounding the CLARITY Act remains a challenge for bullish momentum.

Many investors view the legislation as a major regulatory milestone that could encourage greater institutional participation in crypto markets. Delays in passing the bill could therefore continue to influence market sentiment until clearer progress emerges.