In a notable development, wallets holding 10,000 Bitcoin or more have reached their highest coin accumulation in the past six years.
According to data from Santiment, these large wallets now hold in excess of 3.19 million coins, a milestone last achieved in November 2018.
Over the past six weeks, these major BTC wallets have benefited greatly from market volatility. As Bitcoin price fluctuated, these wallets accumulated an additional 212,450 BTC, representing a 1.05% increase in total Bitcoin supply.
Santiment's analysis shows that these large BTC addresses are likely to include multiple trading liquidity providers – entities that play a key role in maintaining Bitcoin liquidity across many other trading platforms together.
Bitcoin price fell to $53,500 on Friday, hitting a low not seen since February.
Since then, Bitcoin has regained some of its losses and is trading at $57,459, up a slight 1.6% on the day
![](https://public.bnbstatic.com/image/pgc/202407/a649bf8f1137772534b1f4e19ee875e2.png)
Source: TradingView
Bitcoin skyrocketed to an all-time high of more than $73,700 in March of this year, when the Securities and Exchange Commission (SEC) approved the first U.S. spot Bitcoin ETF fund.
Since then, Bitcoin price has stabilized in the $60,000 to $70,000 range with investor apathy and boredom. This leads to widespread indecision and the market is unable to create a strong trend in any direction.
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