Only 90 Bitcoin Wallets Hold 10K+ BTC as Price Tests $65K
Bitcoin slipped back below $64,000 after failing to hold above $65,000, down over 1.6% on the day. Against this pullback, Bitcoin wallets holding 10,000+ BTC are strengthening: Santiment data shows the count of “elite” wallets rose to 90, a six-month high (up 7% over 8 weeks, +6 wallets).
At the same time, smaller holders (micro wallets) reduced their BTC in August. Santiment links that drop to retail “FUD” after Coldcard-related hacks and delays around the CLARITY Act. The firm says supply is shifting toward stronger hands, which often precedes a more bullish impulse when the next major move hits.
Technically, traders are watching $65,400 as the key confirmation level. “Doctor Profit” says a breakout likely requires multiple weekly closes above $65,400, not just a single push. Upside resistance zones are $77,000–$78,000 and then $83,000. If momentum fails, $61,500 could re-enter focus, followed by $54,000.
Flow data is mixed: US spot Bitcoin ETFs saw $144.67M in net outflows (first negative August session). BlackRock’s IBIT led with about $53.5M outflows, with Grayscale’s GBTC and Fidelity also reporting losses. Meanwhile, MicroStrategy continued trimming, selling 1,690 BTC for ~$108.6M.
Overall, Bitcoin wallets holding 10,000+ BTC at a six-month peak add a constructive backdrop, but ETF outflows and resistance keep near-term direction uncertain.
Neutral
The article highlights two opposing forces. On-chain, the number of Bitcoin wallets holding 10,000+ BTC hit a six-month high (90), while micro-wallet supply fell—often interpreted as a shift toward “stronger hands,” a pattern that has preceded bullish expansions in past cycles. That’s constructive.
However, the market’s tape is still cautious. Bitcoin failed to hold above $65,000 and is below $64,000, while ETF positioning turned negative with $144.67M net outflows—one of the most direct institutional demand signals. Large holders’ selling (MicroStrategy) also reduces immediate supply pressure relief.
Historically, when whale concentration improves but ETF flows turn negative, price action often becomes range-bound until either (1) $65,400 gets multiple weekly closes (bullish continuation), or (2) rejection forces a deeper retracement (bearish pullback). So the near-term outlook is uncertain rather than strongly trending.