#比特币巨鲸动向 Recently, Bitcoin whale movements are active:

- **Large-scale Sell-off**: On July 4, a whale that had been dormant for 14 years transferred 20,000 BTC, worth approximately $2.18 billion, with a return rate of up to 140,000 times. Another whale holding 80,000 BTC transferred the coins to a new address, possibly preparing to sell.

- **Increase in Exchange Inflows**: According to Coinglass data, in the past 24 hours, CEX has seen a cumulative net inflow of 421.07 BTC, with Binance having the highest inflow at 517.73 BTC.

- **Institutional Accumulation**: Despite the whale sell-off, demand for Bitcoin from institutions and ETFs continues to grow. Since July 2024, companies and ETFs have cumulatively accumulated about 899,190 BTC, worth over $96 billion.

In summary, the sell-off by Bitcoin whales has put short-term pressure on the market, but institutional accumulation may support prices. Market sentiment remains cautious, with a focus on the subsequent actions of whales and institutional movements.