Bitcoin whale wallets rise to 90, accumulation trend continues

The number of Bitcoin wallets holding at least 10,000 BTC has increased to 90, a six-month high, according to analytics firm Santiment. Over the past eight weeks, the count of these 'whale' wallets has risen by six, a 7.1% increase. Since July 29, wallets in the 10--10,000 BTC range have accumulated Bitcoin worth 1500000000 dollars. This accumulation trend suggests larger players are buying while smaller holders sell, increasing the likelihood of Bitcoin moving above 70000 dollars rather than dropping below 60000 dollars. In contrast, 'micro' wallets have been decreasing throughout August, linked to the Coldcard hardware-wallet exploit that drained approximately 120000000 dollars worth of Bitcoin and delays to the U.S. Clarity Act. These trends indicate a supply rotation from smaller holders to larger investors, often preceding significant price movements. Bitcoin was trading near 63800 dollars at the time of writing, with uncertainty about whether this whale accumulation signals the start of a recovery or a temporary pause.

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