Bitcoin (BTC) Price Today: Whale Buying Strengthens Bullish Case as BTC Consolidates Near $79K

At the same time, technical indicators show that the recent rally has become stretched, leaving Bitcoin price caught between a constructive medium-term structure and the risk of a deeper short-term pullback.

Bitcoin (BTC) price chart. Source: Brave New Coin

BTC climbed to around $81,500 during the latest advance before retreating toward the $79,000 area. The move represented a gain of roughly 31% from the August 1 level near $62,229. Recent market data also shows that spot Bitcoin ETFs attracted about $3.3 billion in net inflows during August through August 28, according to The Financial Times’ Crypto newsletter data tracker.

Bitcoin Whales Continue to Accumulate

On-chain data provides one of the more notable signals behind the current Bitcoin price prediction. Whale wallets reportedly accumulated 39,154 BTC over the past week, worth approximately $3 billion at recent prices.

Whales accumulated more than 39,154 BTC over the past week, highlighting sustained demand from large investors. Source: Ali Martinez via X

The accumulation has occurred while smaller holders have been reducing exposure. Wallets holding between 0.1 and 1 BTC recorded an Accumulation Trend Score of -0.982, indicating strong distribution within that cohort. By contrast, larger wallets have maintained neutral-to-positive accumulation behavior.