Bitcoin's (CRYPTO:BTC) recent drop to a four-month low at around $53,000 has seen significant losses for investors, with nearly $1 billion realized in July alone, according to Cryptoquant.

Despite this downturn, whales have been aggressively increasing their Bitcoin holdings, suggesting potential demand resilience.

However, mixed market signals persist, with the Profit & Loss Index nearing its 365-day moving average, historically signaling major market corrections.

Stablecoin liquidity, crucial for a price recovery, shows modest growth, with USDT (CRYPTO:USDT) lagging behind USDC (CRYPTO:USDC).

Concurrently, mid and large-sized miners continue to sell bitcoin, adding complexity to bitcoin's current market state and future trajectory.