Bitcoin pushed past $64,000 early Monday, signaling renewed bullish momentum after weeks of consolidation. The digital asset trades at $63,818, up 0.9 percent over the past 24 hours, according to Gokhshtein Media data feeds.
On-chain analytics from Glassnode show a sharp uptick in accumulation from wallets holding between 1,000 and 10,000 BTC. These whale addresses added over 8,500 BTC to their holdings in the last 72 hours, reversing a distribution trend observed throughout July. Exchange outflows hit a three-month high, signaling a strong preference for self-custody among larger investors.
Spot Bitcoin ETFs recorded net inflows over the past week, confirming institutional demand. These regulated vehicles are absorbing selling pressure from other market segments and reflecting growing confidence from traditional finance.
The immediate resistance sits at $65,500, with support forming around $62,800. Traders are watching for a decisive flip of $64,000 into support to confirm trend continuation. A sustained break above $65,500 opens the path to higher targets. Ethereum trades at $1,868, up 0.2 percent, showing a more modest reaction to Bitcoin's move.
Bitcoin's supply held by long-term holders now accounts for over 70 percent of circulating supply. With liquid supply on exchanges contracting, a supply shock is brewing if accumulation persists.
