Experts aren’t convinced the intervention will meaningfully shift market dynamics long-term, and traders watching Bitcoin probably shouldn’t treat it as settled. But the spot market? Rafael Schultze-Kraft of Glassnode put it plainly: the spot market turnover ratio is at its lowest recorded level. Bitcoin hit $65,420 on Sunday, marking a new high for August and closing the week with increased momentum ahead of key US inflation data. What accumulation did large Bitcoin holders show on August 9?