On Oct. 16, on-chain analytics platform Santiment reported that the number of wallets holding between 10 and 10,000 Bitcoin had reached 20,338, the highest level on record. The platform said the count has risen notably since mid-July despite periods of price volatility. Santiment added that this cohort has been closely tied to Bitcoin’s next directional move, making the shift notable for traders watching large-holder behavior. The data also showed that whales continued to enter this holding range during choppy market conditions. In Santiment’s reading, that suggests large pools of capital have not exited the market in a broad way during the recent downturn. The update was cited by BlockBeats as a snapshot of whale positioning in Bitcoin at a time when price action remains uneven.
BlockBeats reported on Oct. 16 that on-chain analytics platform Santiment said the number of wallets holding between 10 and 10,000 Bitcoin had reached 20,338, a record high.
According to Santiment, the figure has increased notably since mid-July despite price volatility. The platform said this holder group is closely linked to Bitcoin’s next directional move. It also said whales continued to move into this range during choppy trading, indicating that large capital has not broadly left the market during the price decline.
This article was originally published by Bit.Fan. For more cryptocurrency news and market insights, visit www.bit.fan. Disclaimer:
The market information, project data, and third-party content displayed on this platform are for industry information sharing only and do not constitute any form of investment advice or return commitment.
Cryptocurrency trading carries high risks. Users should fully assess their risk tolerance and make independent decisions. All profits, losses, and legal responsibilities are borne by the users themselves.
