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Analysis: Long-term Bitcoin holders have large-scalely transferred their holdings for two consecutive days, possibly to preemptively avoid macro risks

ChainCatcher reports that analyst Murphy posted that two consecutive days saw transfers exceeding 65 thousand $BTC in a single day (excluding intra-entity transfers), leading to a significant drop in long-term holder (LTH) net holdings. Murphy noted that LTH net holdings have changed their previous sustained upward trend since May, remaining stagnant through July—a rare occurrence in nearly a year. Approximately 14 thousand $BTC have been transferred into exchanges, including 2,628 $BTC transferred by a publicly traded company under Trump's ownership into Crypto.com.

He also listed potential macro-level risk factors currently affecting $BTC, including the Federal Reserve’s 9-to-3 split vote on interest rate cuts, Middle East conflicts and oil prices, highly concentrated valuations in the U.S. equity AI sector relying heavily on debt and private credit financing, and yen carry trade positions again piling up to near historically extreme one-sided net short positions, while cautioning that $BTC’s current position structure sensitivity may amplify these risks.

An address deposited 1.448 million USDC to position in SK Hynix and posted a $10 million long buy order

An address deposited 1.448 million $USDC collateral into Hyperliquid this morning, then placed a total of $10 million in long buy orders for SKHX within the price range of $991.22 to $1,016.60; if SKHX declines further, it will enter a long position.

Data: A Bitcoin whale that had been dormant for 7 months transferred 16,400 BTC, worth over $1 billion

According to Lookonchain monitoring, a whale wallet transferred all 16,400 $BTC it held to a new wallet 1 hour ago after being inactive for 7 months, worth $1.04 billion.

Bitcoin & Ethereum Spot ETF Flow

Net inflows ended for three consecutive weeks, with Bitcoin spot ETF recording net outflows of $61.53 million last week

According to SoSoValue data, during last week’s trading days (U.S. Eastern Time July 27 to July 31) spot Bitcoin ETFs had net outflows of $61.53 million.

The spot Bitcoin ETF with the largest weekly net outflow last week was Fidelity’s ETF FBTC, with a weekly net outflow of $85.1893 million; FBTC’s cumulative historical net inflows currently amount to $9.92 billion. The next was Grayscale’s Bitcoin Trust GBTC, with a weekly net outflow of $52.6275 million; GBTC’s cumulative historical net outflows currently amount to $27.47 billion.

The spot Bitcoin ETF with the largest weekly net inflow last week was BlackRock’s ETF IBIT, with a weekly net inflow of $86.9022 million; IBIT’s cumulative historical net inflows currently amount to $60.48 billion. As of the time of publication, the total net asset value of spot Bitcoin ETFs was $76.29 billion, the ETF net asset ratio (market capitalization as a proportion of total Bitcoin market capitalization) reached 6.04%, and cumulative historical net inflows have reached $51.32 billion.

Ethereum spot ETFs had net inflows of $27.42 million last week, marking four consecutive weeks of net inflows

Last week's trading days (July 27 to July 31, Eastern Time) saw net inflows of $27.42 million into Ethereum spot ETFs. The Ethereum spot ETF with the highest net inflows last week was BlackRock's ETF ETHA, with weekly net inflows of $36.6207 million, bringing ETHA's cumulative total net inflows to $11.45 billion. Second was BlackRock's ETF ETHB, with weekly net inflows of $21.297 million, and its cumulative total net inflows now stand at $544 million.

The Ethereum spot ETF with the largest weekly outflows was Fidelity's ETF FETH, with weekly net outflows of $20.8053 million, while FETH's cumulative total net inflows currently reach $2.1 billion. As of the time of this report, the total net asset value of Ethereum spot ETFs is $10.23 billion, with the ETF net asset ratio (market cap as a percentage of Ethereum's total market cap) reaching 4.55%, and cumulative net inflows since inception totaling $11.21 billion.