1. Kraken Sees $2.8 Billion Bitcoin Withdrawal
A massive 49,000 Bitcoin — worth more than $2.8 billion — was withdrawn from Kraken in a single transaction on Monday. While the identity behind the transfer remains unknown, on-chain analysts suggest it could be tied to custodial movement or long-term storage by an institutional player. Large outflows like this often signal reduced sell pressure and increased confidence in Bitcoin's long-term value.
🔹 CryptoQuant CEO Ki Young Ju says the transfer is “likely an internal or custody-related move, but it reflects institutional activity ramping up."
2. SpaceX Wallet Transfers $153M in BTC
A wallet identified as belonging to SpaceX moved 1,308 Bitcoin — valued at around $153 million — in a single transfer yesterday. The move sparked speculation across X about Elon Musk’s continued interest in Bitcoin, though there’s no indication of a sale or strategy shift. The timing, so close to other large institutional movements, added fuel to the conversation.
🔹 On-chain analyst James Check of Glassnode notes that “high-profile moves like this often precede market interest — even if they’re not buys or sells."
3. ETF Inflows Hit $403 Million on Monday
Spot Bitcoin ETFs raked in $403 million in combined inflows on Monday, continuing July’s strong momentum. BlackRock’s IBIT and Fidelity’s FBTC led the pack, with Bitwise’s BITB close behind. Persistent ETF demand during market consolidation suggests institutional conviction is holding steady.
🔹 ETF analyst Eric Balchunas of Bloomberg writes, “These numbers show Bitcoin isn’t a fad for institutions — it’s a strategic allocation."
Also Worth Noting
PNC Bank plans to offer Bitcoin trading, according to CEO Bill Demchak on CNBC. It’s part of a broader trend where no bank wants to be the last to offer Bitcoin.
“I’m Ross Brand — tracking what matters in Bitcoin and helping you make sense of it.”
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Bitcoin Universe is for informational purposes only and does not constitute financial advice.
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