Only 90 Bitcoin Wallets Hold 10K+ BTC: And That Number Just Hit a 6-Month High
Large Bitcoin wallets have reached a six-month high, even as smaller holders retreated.
Another push above $65,000 failed to hold on Tuesday, sending Bitcoin back below $64,000. The crypto asset was down more than 1.6% over the past day.
Against this backdrop, large BTC wallets are back at levels not seen in months. Meanwhile, smaller holders are steadily losing ground.
Elite Wallets Are Moving Up
Bitcoin’s elite wallet count has returned to a six-month high. There are now 90 wallets holding at least 10,000 BTC. According to the latest data shared by Santiment, the number has risen by 6 wallets over the past 8 weeks, a 7% increase. At the same time, holdings among micro wallets have been falling in August. The analytics firm attributed this decline to retail FUD following the Coldcard hacks and delays surrounding the CLARITY Act.
Santiment explained that the supply is moving toward stronger hands ahead of the next major market fluctuation. This shift usually raises the likelihood that the next major fluctuation will be bullish.
Bitcoin’s next move could now depend on whether it can clear $65,400. Doctor Profit recently said that the level remains important after several failed attempts to break above it. A move past it alone would not confirm a breakout; the analyst is looking for several weekly closes above the level instead.
