Bitcoin Wallets Hoard Over 113K BTC as Weaker Hands Shaken Out

A recent accumulation of Bitcoin by wallets holding between 100 and 1,000 BTC has raised eyebrows in the crypto community. According to on-chain data from Santiment, this cohort added a massive 113,950 BTC since July 15.

This represents more than a quarter of all Bitcoin's circulating supply, with these wallets now holding approximately 5,243,253 BTC. The accumulation is notable because it contrasts with the larger holders in the 1,000-10,000 BTC tier, who experienced net reductions over the same period.

The July divergence shows that this cohort actually distributed around 77,800 BTC at one point, but then came back with even more conviction after a volatility event shook out weaker hands. The Coldcard hardware wallet incident in late July seemed to have triggered a response from larger wallets, which added about 19,610 BTC.