Bitcoin's 'strongest hands' are back, on-chain data show
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Bitcoin’s BTC $ 63,903.86 elite holders are quietly loading up again.
Key facts
Since July 29, wallets in the 10–10,000 BTC range (whales and sharks) have accumulated BTC worth $1.5 billion
The number of wallets holding at least 10,000 BTC has climbed back to 90, a six-month high, according to analytics firm Santiment
Bitcoin’s BTC $ 63,903.86 elite holders are quietly loading up again
Bitcoin was trading near $63,800 as of this writing
Summary
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. The number of wallets holding at least 10,000 BTC has climbed back to 90, a six-month high, according to analytics firm Santiment.