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Wallets holding 100 to 1,000 BTC have accumulated about 113,950 BTC since July 15, according to on-chain analytics platform Santiment. Over the same period, the group’s Bitcoin holdings rose 2.22% to about 5.24 million BTC.
Santiment said accumulation by this wallet cohort has historically shown a strong correlation with the direction of the crypto market and has often appeared before or during periods of strong directional moves. The firm added the recent rise in Bitcoin suggests the uptrend has not relied solely on retail buying, but has also been supported by purchases from whales with substantial capital.