Wallets holding over 10,000 BTC have reached a six-month peak of 90, reflecting increased activity among major investors amidst security concerns and regulatory delays.
By Omkar Godbole11 min ago2 min readMake preferred on ShareShare this articleCopy linkX (Twitter)LinkedInFacebookEmailMake preferred on Bitcoin's elite holders are actively accumulating. (Metropolitan Museum of Art, modified by CoinDesk)SummaryShow- The count of bitcoin wallets with at least 10,000 BTC has reached 90, signaling renewed interest from large investors.
- Since July 29, wallets containing between 10 and 10,000 BTC have accumulated approximately $1.5 billion in bitcoin, while smaller wallets have diminished due to security concerns and regulatory setbacks.
- Analysts from Santiment suggest this shift from smaller holders to larger ones often precedes significant price movements, hinting at a potential rise above $70,000.
Bitcoin’s BTC$64,061.95 top holders are once again increasing their stakes.
According to analytics company Santiment, the number of wallets containing at least 10,000 BTC has risen to 90, representing a six-month high. This increase of six wallets over the past two months marks a 7.1% rise.
This trend is part of a larger accumulation pattern noted earlier. Since July 29, wallets classified as whales and sharks (holding between 10 and 10,000 BTC) have accumulated around $1.5 billion in bitcoin. Santiment observed that the trend of larger holders accumulating while smaller holders sell has increased the likelihood of a price rise above $70,000 rather than a fall below $60,000.
At the same time, smaller “micro” wallets have been steadily decreasing in number throughout August. Santiment connects this trend to recent events causing uncertainty: the Coldcard hardware wallet breach, which resulted in the loss of approximately $120 million in bitcoin, and the ongoing delays regarding the U.S. Clarity Act, a significant cryptocurrency market-structure bill that has been postponed to September.
These developments indicate a classic supply shift, with coins transferring from smaller holders to the wallets of larger investors, referred to as “strong hands.”
Historically, such a concentration among major holders often precedes significant price changes, and Santiment's analysis suggests the latest shift may tilt the balance toward an upward price movement.
As of now, Bitcoin is trading around $63,800. Whether this renewed activity from whales signifies the beginning of a recovery or merely a temporary pause remains uncertain. However, the data clearly indicates that the largest players are becoming more active while smaller traders are withdrawing.
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