Whales Storm-Buying Despite CLARITY Act Postponement... Bitcoin You'll Regret Not Buying Now?

▲ Bitcoin (BTC)/AI Generated Image ©

Despite macroeconomic uncertainties ahead of the US Non-Farm Payrolls (NFP) report and geopolitical risks in the Middle East, Bitcoin (BTC) is seeking a rebound opportunity by holding its key support level, backed by strong whale accumulation and institutional capital inflows.

According to investment media FXStreet on August 7 (local time), Bitcoin was trading around $64,100 on Friday, establishing a defense line above the 200-week Simple Moving Average (SMA). SoSoValue data shows that US-listed spot Bitcoin ETFs recorded a net inflow of $754.69 million by Thursday, demonstrating a solid recovery in institutional demand.

A CryptoQuant report analyzed that whale forces actively utilized the sub-$60,000 range as an opportunity for low-price buying. Excluding exchanges and mining pools, the pure whale balance continuously increased after bottoming out at 2.87 million in December 2025, reaching approximately 3.06 million by Wednesday. This is still short of the 2025 bull market peak of 3.23 million, suggesting sufficient room for further accumulation in the future.

However, according to foreign media and news reports, concerns over the Iranian parliament reviewing a bill to ban passage through the Strait of Hormuz and the resurgence of tensions in the Middle East are limiting the upside for risk assets across the board. Furthermore, news that the US Senate postponed the vote on the CLARITY Act, the US cryptocurrency market structure bill, until after September 14, following the August recess, deepened short-term wait-and-see sentiment.

On technical charts, Bitcoin is using the 200-week SMA of $63,776 as a key defense line. If it holds this support and breaks above the Fibonacci 78.6% retracement resistance level of $65,520, it could extend its upward channel to the Fibonacci 61.8% level of $78,490. The weekly Relative Strength Index (RSI) is 39 and on an upward trend, and the Moving Average Convergence Divergence (MACD) has also maintained a positive histogram since forming a golden cross in mid-July, indicating an easing of bearish sentiment.

Conversely, on a daily basis, it remains below the 50-day Exponential Moving Average (EMA) of $64,632, the 100-day EMA of $67,018, and the 200-day EMA of $73,148, indicating a short-term bearish bias. If the immediate short-term support level of $64,004 is breached, it could fall to the $60,000 trendline. Therefore, the results of future non-farm employment figures and changes in expectations for a Fed rate cut are expected to act as major inflection points.

*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. This content should be interpreted for informational purposes only.*