Large BTC holders accumulate $1.5 billion in eight weeks, signaling potential upside above $70,000 per analysts.
The number of Bitcoin wallets holding at least 10,000 BTC reached 90, a six-month peak, as large investors ramp up accumulation. This marks a 7.1% increase over the past eight weeks, reflecting renewed confidence among elite holders.
Mid-sized wallets, holding between 10 and 10,000 BTC, added approximately $1.5 billion in Bitcoin since July 29. Meanwhile, smaller wallets have shrunk, driven by security concerns and regulatory delays, according to on-chain analytics.
Analysts suggest this shift from smaller to larger holders historically precedes significant price movements, tilting the odds toward a break above $70,000 rather than a drop below $60,000.