Bitcoin wallets holding 10–10,000 BTC accumulated 88,987 BTC since September 19, reaching a six-month high of 13.69 million BTC. Bitcoin exchange reserves rose from 2.67 million to 2.68 milli
Bitcoin’s largest holders have added nearly 89,000 BTC in one month, pushing their combined holdings to a six-month high. Santiment Intelligence reported that wallets holding 10 to 10,000 BTC accumulated approximately 88,987 BTC since September 19. However, CryptoQuant’s latest data shows weakening spot demand and uneven accumulation across larger holder groups.
According to Santiment Intelligence, wallets holding between 10 and 10,000 BTC now collectively control more than 13.69 million BTC. Their combined balance represents the highest level since April, following aggressive accumulation during recent price volatility.
Santiment said this group’s holdings have historically tracked Bitcoin’s major price trends. The latest increase contrasts with uncertainty in market prices, although the firm noted that accumulation does not guarantee further gains.
CryptoQuant’s analysis also identified continued accumulation among some holders. Wallets holding 100 to 1,000 BTC remained net accumulators over 60 days, although their activity stayed below its late-September peak.
https://twitter.com/cryptoquant_com/status/2112118306799009845?s=20CryptoQuant reported that Bitcoin exchange reserves increased from approximately 2.67 million BTC in early October to around 2.68 million. Reserves remain low compared with January, but the recent increase shows supply is no longer consistently declining.
However, rising reserves do not necessarily indicate selling. CryptoQuant noted that transfers can reflect custody changes rather than plans to sell Bitcoin.
Spot demand has also weakened. The 30-day demand measure approached zero before turning negative again, while demand from perpetual futures remained positive. CryptoQuant distinguished this measure from its separate Apparent Demand metric, whose values are not directly comparable.
CryptoQuant reported that net holdings declines among wallets holding 1,000 to 10,000 BTC narrowed toward zero. However, the group holding more than 10,000 BTC remained negative, showing accumulation has not spread across all large holders.
The analysis identified sustained positive spot demand, absorption of returning exchange supply, and broader holder accumulation as conditions for a durable recovery. It also noted that expectations around U.S. midterm elections and monetary policy must translate into actual buying.
These updated readings show rising whale balances alongside higher exchange reserves and weakening spot demand.
