Are You Buying? Whales Accumulate 120K BTC ($14B) in Rebound From $112K

Bitcoin’s price recently fell from a record high of $123,000 to a low of $112,000. In response, large holders quietly stepped in, acquiring around 120,000 BTC (valued at nearly $14 billion) during the rebound.

~120k $BTC were acquired during the rebound from $112k to $114k – evidence of opportunistic buying. Yet supply within the $110k–$116k range remains sparse, meaning stronger accumulation is needed to form lasting support: https://t.co/1J8WjAFubu pic.twitter.com/vL4OL3hOlg

— glassnode (@glassnode) August 7, 2025

This wave of accumulation helped push the price back above $114,000, signaling some confidence despite recent weakness. However, the market remains fragile, trapped in a low-volume zone between $110,000 and $116,000.

Whales Accumulate as Bitcoin Slips Into Low-Liquidity

Before breaking lower, the $116,000 level had repeatedly acted as support, bouncing the price higher each time. However, that level gave way on July 31, pushing bitcoin into a low-liquidity “air gap” where fewer coins had previously changed hands.

These low-volume zones often become accumulation areas as buyers step in at perceived discounts. To track such activity, on-chain commentator Coinglass used the Entity-Adjusted UTXO Realized Price Distribution (URPD) to compare investor behaviour before and after the drop.

Between July 31 and August 4, the data revealed a spike in buying interest around the $112,000 level. This suggests opportunistic accumulation by large holders positioning at what they believe are temporary lows.

While the rebound reflects renewed demand, total BTC supply in this range remains limited. Without deeper accumulation, the area may lack the strength to establish lasting support.

Resistance Ahead as Market Searches for Direction

Short-term holders who entered between one week and one month ago are now underwater, with an average cost of $116,900. That level has become the next resistance to reclaim.

According to Coinglass, a move above this zone could signal that buyers are regaining control. Until then, bitcoin remains vulnerable to a deeper pullback—potentially toward $110,000.

Supporting this view, short-term holder profitability has dropped from 100% to 70%, a range consistent with prior bull market corrections. Profit-taking has also cooled, with just 45% of spent coins coming from still-profitable wallets.

Altogether, these metrics suggest the market is undergoing a reset, with neither bulls nor bears clearly in charge. Whether bitcoin can establish support in this zone may determine its next major move.

BTC is trading around $116,300 at press time, marking a gain of more than 100% over the past year.

The post Are You Buying? Whales Accumulate 120K BTC ($14B) in Rebound From $112K appeared first on Cointab.