Bitcoin (BTC) news: 'Strongest hands' are back, on-chain data show

Bitcoin wallets with over 10,000 BTC has reached a 6-month high of 90 as larger holders accumulate and retail sells amid Coldcard hacks and regulatory delays.

Bitcoin (BTC) news: 'Strongest hands' are back, on-chain data show

Markets

Bitcoin's 'strongest hands' are back, on-chain data show

Elite wallets holding over 10,000 BTC has hit a six-month high of 90, building on earlier accumulation by mid-sized whales amid Coldcard fallout and Clarity Act delays.

By

Omkar Godbole

2 hrs ago

2

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'Strong hands' are accumulating BTC again. (Metropolitan Museum of Art, modified by CoinDesk)

Summary

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The number of bitcoin wallets holding at least 10,000 BTC has risen to 90, a six-month high, signaling renewed accumulation by large investors.

Since July 29, wallets holding between 10 and 10,000 BTC have added about $1.5 billion in bitcoin, while smaller “micro” wallets have been shrinking amid security fears and regulatory delays.

Analysts at Santiment say this rotation of coins from smaller holders to so-called strong hands has historically preceded major price moves and now tilts the odds toward an upside break above $70,000.

Bitcoin’s

BTC

$

63,945.55

elite holders are quietly loading up again.

The number of wallets holding at least 10,000 BTC has climbed back to 90, a six-month high, according to analytics firm Santiment. Over the past eight weeks alone, the count of these “whale” wallets has risen by six, a 7.1% increase.

The move

builds on a broader accumulation trend

first flagged four days ago. Since July 29, wallets in the 10–10,000 BTC range (whales and sharks) have accumulated BTC worth $1.5 billion. Santiment noted at the time that the pattern of larger players accumulating while smaller holders sell raised the odds of a move above $70,000 versus a drop below $60,000.

Meanwhile, “micro” wallets have been steadily shrinking throughout August. Santiment links this divergence to two recent catalysts of uncertainty and doubt: The Coldcard hardware-wallet exploit, which drained roughly $120 million worth of bitcoin, and continued delays to the U.S. Clarity Act, the long-awaited crypto market-structure bill that the Senate has now pushed to September.

These trends point to a classic supply rotation, with coins shifting from smaller holders into the wallets of the largest investors, the so-called “strong hands.”

Historically, this kind of concentration among big holders has often preceded major price moves, and, as per Santiment, the latest rotation raises the odds that the next big price move could be to the upside.

Bitcoin was trading near $63,800 as of this writing. Whether the renewed whale accumulation marks the early stages of a recovery or simply a temporary pause remains to be seen. But the on-chain clearly shows the biggest players are getting more active while everyday traders are stepping back.

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