Bitcoin climbs to $81,500 as whales buy $3 billion, ETF inflows hit $3.3 billion

ETF inflows and whale accumulation drive demand

Spot Bitcoin exchange-traded funds attracted nearly $3.3 billion in net inflows through the month of August, according to data from The Financial Times’ Crypto newsletter. This wave of institutional investment has helped fuel the latest advance.

On-chain data highlights that Bitcoin whales—wallets holding substantial amounts—accumulated 39,154 BTC over the past week alone. This corresponds to roughly $3 billion at current prices.

Large investors have steadily added to their positions even as smaller holders sold into strength, mitigating the impact of short-term retail profit-taking.

Smaller Bitcoin wallets saw an Accumulation Trend Score of -0.982, signaling considerable selling within this group. Conversely, wallets with larger holdings continued to record net positive or neutral accumulation.

Data from analytics firm Santiment shows that the total BTC supply controlled by whale wallets is now close to 5.22 million BTC, underscoring confidence among long-term investors.

Mini dictionary: Santiment is a blockchain analytics firm that provides insights into wallet activity, on-chain data, and sentiment related to major cryptocurrencies, helping traders and investors understand market trends.

BTC faces consolidation and key support levels

Technical analysis places Bitcoin within a consolidation range between $77,300 and $78,300. After setting a recent low around $77,200-$77,400, the market saw a higher low and higher high, reflecting an improved short-term structure.

Immediate resistance lies around $78,250-$78,350. A sustained close above this band would suggest buyers are regaining control, potentially targeting further resistance zones at $79,000, $80,000, and $81,000, with the latter marking the recent peak.

If prices fall below $77,200, the broader $76,000-$77,000 support comes into focus, while further decline could lead to a test of $75,700. This level is seen as an important threshold for maintaining the medium-term bullish case.

Mixed signals from technical indicators

Bitcoin’s technical indicators remain mixed. At last reference, BTC moved near $78,267 and received a Neutral overall technical rating on TradingView. Oscillator metrics showed the 14-period RSI at 72, above the common 70 benchmark often associated with overbought conditions, while the Stochastic %K stood at 82.

The MACD, at 3,926, issued a Buy signal, suggesting medium-term strength. However, shorter-term momentum, measured at 5,265, produced a Sell signal.

Moving averages offered broad support, with the 20-period EMA at $73,605, the 50-period at $69,332, and the 200-period at $72,171 – all beneath current price levels. Most moving averages continue to suggest a bullish bias, but stretched oscillators warn that momentum could fade.

Key levels and outlook

A decisive break above $78,300 would place Bitcoin in position to retest $79,000, $80,000, and the $81,000–$81,400 band. If resistance holds and price falls below $77,200, downside targets at $76,000 and $72,800 will come into focus.

Market structure remains favorable above $75,700, but overextended momentum measures argue for caution in expecting an immediate breakout.

Whale accumulation and robust ETF flows add support on pullbacks, yet the $78,300 to $81,000 range remains the zone BTC must clear for a fresh upward leg.