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