Good on-chain data. What's holding up the current rally?
Despite the bearish sentiment and negativity among most investors, whale wallets (+10,000 $BTC ) had a different opinion and made further purchases when they reached $112K, providing good support in this area.
US investors are neutral, and the Coinbase Premium index is close to zero.
However, the behavior of funds has been slightly different, with negative inflows of varying numbers over the past four days, the most significant of which was -7.02K BTC on August 1st.
This was followed by additional transfers to the Coinbase platform.
With the positive inflow from whales, the first shift by fund investors to buy will see the price rise rapidly. Naturally, US investors will also turn positive, as they are currently in neutral territory and awaiting a clear signal to determine their next direction.
