Bitcoin Mega-Hodlers Tighten Grip: 68.44% of Supply Now Locked in Whale Wallets
Whale alert: Bitcoin's wealth gap just hit DEFCON 1.
The big money's not just playing—they're rewriting the rules. While retail investors chase memecoins, institutional players have quietly amassed a staggering 68.44% of all Bitcoin in circulation. This isn't accumulation—it's a digital land grab.
Market movers vs. bag holders
Forget 'number go up'—this concentration could rewrite Bitcoin's volatility playbook. When a handful of wallets control the majority, price swings aren't just market forces—they're strategic decisions. The ultimate HODL? More like the ultimate leverage.
The irony? This is exactly what crypto was supposed to disrupt. Banks might wear suits, but at least they're required to disclose their holdings—try getting a whale to show their private keys.
- Mid-sized Bitcoin wallets have added over 218,000 BTC since March, now controlling more than two-thirds of the total supply.
- Large holders reduced their Bitcoin stash by 502,000 BTC, while institutional interest kept demand steady.
- Bitcoin’s trend remains positive, but weakening indicators suggest the market could slow down in August.
Bitcoin’s price action continues to reflect interesting shifts in wallet behavior. Since late March, wallets holding between 10 and 10,000 BTC have picked up over 218,000 coins, according to Santiment.
These wallets now hold about 68.44% of all Bitcoin in circulation. This steady accumulation shows growing confidence from this tier of investors, despite market uncertainty and short-term volatility.
Meanwhile, wallets with over 1,000 BTC have taken a different approach. CryptoQuant’s Axel pointed out that these larger holders sold off around 502,000 BTC over the past year.
This MOVE suggests they were locking in profits after strong price gains. But thanks to new demand, especially from institutions, Bitcoin’s price stayed afloat. This shift shows that while older whales are exiting, newer market players are stepping in to fill the void.
Similar Signs From Past Bull Run Appear Again
Joao Wedson, CEO of Alphractal, sees patterns forming that look a lot like the last major bull run in 2020 and 2021. Back then, Bitcoin’s price kept climbing even as addresses with over 10,000 BTC were shrinking. The same thing is happening now.
Based on that, Wedson believes the current rally could be in its final stages. His firm’s analysis points toward October as a likely turning point. With address counts declining at the top end and prices still rising, the setup mirrors what happened before the last peak. For now, it looks like history could be repeating itself.
Bitcoin Technicals Show Mixed Signals as August Levels Tighten
Bitcoin is trading around $118,666.09 and holding above some key support levels. It remains above both the 20-day EMA ($117,048) and the 50-day EMA ($112,911), showing that short-term momentum is still positive.
The longer-term trend is also intact, with the 200-day EMA sitting much lower at $100,210. On the Ichimoku chart, BTC is above the cloud, which usually signals strength. However, the flat Tenkan-sen ($117,461) and Kijun-sen ($114,750) hint at a market that’s pausing rather than pushing forward.
The momentum indicators are mixed. The RSI at 60.18 shows there’s still room for more gains, but not with full force. The MACD is above the signal line, though both lines are trending downward.
That opens the door for a bearish crossover if momentum doesn’t pick up. On the positive side, the CMF remains high at 121, showing strong inflows, likely from institutional sources.
For August, $117,000 is a key level. Holding above it could lead to another push toward $120K and possibly $125K–$127K. But if bitcoin slips below $114,750, a move down to $112K or even $110K could follow.
