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Wallets holding between 10 BTC and 10,000 BTC have been aggressively accumulating since Sept. 19, according to Santiment. The on-chain analytics firm said the cohort bought about 88,987 BTC over the past month, bringing total holdings to about 13.69 million BTC, the highest level in the past six months.
Santiment said movements by the group have historically shown a close correlation with major Bitcoin price trends, making the accumulation pattern a notable indicator. Amid continued price volatility, the firm said the ongoing buying suggests large-scale investors are increasing their Bitcoin exposure rather than reducing holdings, adding that the trend could support further gains in Bitcoin if it continues.