Bitcoin whales hold 5.23 million BTC as markets await inflation, Fed and CLARITY vote

  • Ali Martinez said Bitcoin whales kept holdings broadly unchanged ahead of major market events.
  • 5.23 million BTC was the approximate whale-holding level over the past week.
  • Bitcoin traded between $77,500 and $80,000 as investors awaited inflation, policy and legislative developments.

Bitcoin whale holdings remained almost unchanged at roughly 5.23 million BTC over the past week, according to Santiment Intelligence data cited by analyst Ali Martinez. The lack of meaningful accumulation or distribution suggests large investors are staying on the sidelines ahead of a dense sequence of market-moving events. The August Producer Price Index is due first, followed by the more closely watched Consumer Price Index. Markets are also assessing a 60% probability of a September Federal Reserve rate increase after a stronger-than-expected U.S. employment report, although a Reuters poll found most economists expect the central bank to hold rates steady. The Senate is scheduled to hold a procedural vote on advancing the CLARITY Act on Sept. 15, followed by the Federal Reserve's rate decision, Kevin Warsh's press conference and updated economic projections on Sept. 16. Bank of Japan rate announcements will follow. Bitcoin has traded sideways between $77,500 and $80,000 for about a week, with repeated advances stopped near the upper end and pullbacks supported near the lower end. The closely timed macroeconomic and crypto-specific events are expected to test that consolidation.

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