Bitcoin's Elite Wallet Count Hits 6-Month High Amid Diverging Market Trends

The number of Bitcoin wallets holding at least 10,000 BTC has reached a six-month high, according to Santiment data. As of now, there are 90 such wallets. This growth is in contrast to smaller wallets, which have been selling off their holdings throughout August.

Analysts see this divergence as a potential hint about the next market direction. Historically, large investors buying Bitcoin while smaller traders withdraw from it has preceded major price shifts.

The probability of Bitcoin crossing the $70,000 mark seems higher than it moving below $60,000, given the current trend. This prediction is based on past market behavior and not a guarantee of future performance.