Bitcoin whales have added 54,000 BTC to their holdings since mid-June even as the price stays pinned below $65,000. Onchain data show coins in profit still lagging their yearly average, though transfer volume has climbed 23% off its April low.
Bitcoin briefly fell below $63,000 on Friday, August 14, touching a low of $62,535. The same $62,500 zone had earlier in August set up a rebound to $65,500, and the latest rejection from the $65,000 supply zone underlined weakness from the bulls.
Miners, meanwhile, have shown little selling pressure. Bitcoin's average production cost stood at $76,500, a 17% gap above the current price. Yet bitcoin miner stocks have outperformed the leading crypto so far in 2026.
Whale wallets add 54,000 BTC since June
Behind the price stall, crypto analyst Woominkyu's onchain data show wallets holding 100 or more Bitcoin added 54,000 BTC to their holdings since June 14. Shark and retail wallets sold over the same stretch, yet the whale buying wasn't enough to lift price above the $65,000 zone, the whale accumulation notwithstanding.
Coins in profit stay below their yearly average
A separate metric tracked by analyst Axel Adler Jr. shows continued stress among holders. The share of Bitcoin UTXOs currently in profit sits at a 30-day average of 53.7%, well under the 74.6% yearly average. The one bright spot: the metric has bounced from 48% to 53.7% in recent days, suggesting the deterioration is slowing.
Transfer volume climbs from its April low
The 30-day average of total Bitcoin transferred rose 23% from an April low of 627,700 BTC to 769,100 BTC, now running above its 365-day average. It remains unclear from this metric alone whether the moved coins are being accumulated or distributed, or at what profit or loss. Improvement in coins in profit alongside higher transfer volume could help signal a potential market recovery.
Source: AMBCrypto
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