Santiment said the number of Bitcoin wallets holding between 10 BTC and 10,000 BTC has climbed to 20,338, the highest level on record. The on-chain analytics firm said this cohort has expanded sharply since mid-July even as Bitcoin has seen heavy price swings. According to Santiment, historical data shows that wallets in this holding range have been closely tied to Bitcoin’s future price direction. More large holders moving into the bracket during a volatile period suggests that well-capitalized investors are still confident rather than leaving during weakness. Santiment said that trend is a constructive signal for BTC bulls. At the same time, it added that Bitcoin could still face more short-term downside. If the growth in these key wallets continues, the firm said, it could help lay the groundwork for a later price advance.
Santiment said in a post on X that the number of Bitcoin wallets holding between 10 BTC and 10,000 BTC has risen to 20,338, setting a new all-time high.
The firm said this group has continued to grow sharply since mid-July, even as Bitcoin’s price has remained highly volatile.
Wallet growth stands out during price swings
According to Santiment, historical data shows that this holder cohort has been closely linked to Bitcoin’s future price direction. The firm said that more large holders entering this range during a period of price consolidation suggests that well-funded investors are still confident instead of exiting in weaker market conditions.
Santiment described the trend as a positive signal for BTC bulls. It added that the price could still pull back further in the short term, but if the expansion in these key wallets continues, it could help build a base for a future move higher.
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