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Bitcoin whale wallets hit six-month high as micro wallets shrink
On-chain data from Santiment show wallets with 10,000 BTC or more rose to 90, while mid-size holders added about $1.5 billion in BTC since July 29.
CoinDesk reports that Bitcoin wallets holding at least 10,000 BTC have climbed to 90, the highest level in six months, as large investors increase accumulation again.
According to analytics firm Santiment, wallets in the 10 to 10,000 BTC range added about $1.5 billion in bitcoin since July 29, while smaller “micro” wallets have been shrinking through August.
Santiment links the divergence to uncertainty around two developments, including a hardware-wallet exploit tied to Coldcard that drained roughly $120 million in bitcoin and continued delays to the U.S. Clarity Act, a crypto market-structure bill the Senate has pushed to September.
The outlet adds that Santiment says this rotation toward so-called strong hands has historically preceded major price moves, and that the current setup tilts odds toward an upside break above $70,000 versus a move below $60,000, with Bitcoin trading near $63,800 as of the report.
Latest closeBitcoin $63,924.53 ▼1.4%