Larger Holders Revive Buying as Retail Traders Stay Neutral on Bitcoin

Despite Bitcoin's recent price stagnation above $87,400, larger holders are increasing their holdings again. According to Santiment, wallets holding between 10 and 10,000 BTC added 41,025 units over the past 10 days. This surge brings their total balance to 13.64 million BTC, accounting for about 67.93% of Bitcoin's total supply.

These large holders have not been active since the market rally in mid-August. However, smaller wallets holding less than 0.01 BTC remain mostly unchanged during the same period. Santiment notes that stronger market conditions have historically appeared when larger holders accumulate while smaller traders sell.

The trend may provide another indicator of changing market sentiment in the coming days. BIT Research also suggests that Bitcoin's bear market may have already ended, with the cycle low identified in late July after the asset held above $62,900 and showed signs of weakening downside momentum.