Recent analyses indicate that Bitcoin's rally in July is losing steam among retail investors. A decline in demand for the digital asset is observed in the U.S. and Korean markets despite heavy accumulation by larger investors.
Overall Market Conditions for Bitcoin
Analysis by Arab Chain points to waning demand from U.S. and Korean traders. The Coinbase Premium Index, which tracks the price gap between Coinbase and global exchanges, has remained flat or negative despite Bitcoin reaching an all-time high of $122,838 on July 14.
Retail Investor Activity
It has been noted that retail traders in Korea are selling Bitcoin at a discount to global prices, reflecting low demand and ongoing distribution behavior. The surge in retail inflows on Binance from $12 billion to over $16 billion indicates that traders are likely to sell.
Strategies of Large Investors
Whales are seen to be aggressively accumulating Bitcoin. Whale wallets monitored by Whales Screener withdrew almost $200 million in Bitcoin and over $400 million in Ethereum (ETH) from exchanges. These outflows usually indicate long-term conviction and reluctance to sell into the ongoing rally.
Despite the disconnect between the actions of retail and large investors, Bitcoin remains in a confirmed uptrend on the daily chart. Support is found near $115,000, while critical resistance levels are in the range of $120,000–$122,800.
