There is a clear difference between large and small holders. Wallets holding less than 0.01 $BTC have remained mostly unchanged during the same period. Santiment revealed that stronger market conditions have historically appeared when larger holders accumulate while smaller traders sell.
However, the analytics firm said the current pattern is not a guaranteed signal for Bitcoin’s price. Market watchers will likely focus on whether large holders continue adding $BTC and whether retail investors begin reducing their positions. The trend could provide another indicator of changing market sentiment in the coming days.
Adding to the bullish picture, BIT Research said Bitcoin’s bear market may have already ended. The firm identified the cycle low in late July after the asset held above $62,900 and showed signs of weakening downside momentum. Since then, $BTC has reclaimed key levels, including its 21-week moving average at $69,272, and moved above its March 2024 high of $73,084.
The report also highlighted Bitcoin’s cost basis. The True Market Mean currently stands at $76,897, which essentially means that the typical holder is back in profit. This could reduce selling pressure from investors looking to exit at break-even. The firm expects an upside range of $185,000 to $215,000 in its bullish scenario.
You may also like:
- Bitcoin Fell After Four US Midterms: Could 2026 Break the Pattern?
- Bitcoin Price Tops $85K as US Core PCE Rises 0.2% MoM, Cooler Than Expected
- Bitcoin Faces Risk as US Credit Card Stress Hits Multi-Year Highs
However, crypto analyst Doctor Profit speculated a short-term pullback before $BTC’s next move higher. He pointed to bearish signals across several indicators, including RSI, MACD/PPO, and MFI, while also noting weaker trend strength on the ADX indicator.
ETF Inflows and Corporate Buying
Even as the market moves through a quieter stretch, institutional demand is still showing up. US-listed spot Bitcoin ETFs, for instance, attracted a whopping $2.4 billion last week. This week started at a slower pace, but the flow has remained positive. The funds raked in just over $31 million on Monday and another $66 million on Tuesday.
Corporate buyers have also stayed active. Strategy added another 1,665 $BTC over the past week. The company paid an average of $85,681 per coin, taking its total holdings to 847,666 units. Strive has added to the buying activity as well. CEO Matt Cole said the company spent $94.5 million on 1,107 $BTC at an average price of $85,400. Its total holdings have now reached 27,462.
