Bitcoin Whales Add 41,025 BTC as Holdings Reach Six-Week High
Bitcoin wallets holding between 10 and 10,000 BTC accumulated 41,025 BTC over a 10-day period, pushing their combined holdings to the highest level in six weeks, according to blockchain analytics platform Santiment.
Santiment said in a post on X that the group, which it categorizes as Bitcoin whales and sharks, now controls approximately 13.64 million BTC, representing 67.93% of Bitcoin’s circulating supply. The increase contrasts with relatively stable balances among wallets holding less than 0.01 BTC, pointing to different accumulation patterns between larger and smaller address groups.
The 41,025 BTC increase works out to an average of 4,102.5 BTC per day over the 10-day period, although the figure does not mean the same amount was added on each day. Compared with the group’s estimated holdings before the accumulation period, the increase represents roughly 0.30% growth.
Bitcoin Whales Recover Six-Week High
Santiment’s data places the recovery in larger-wallet balances against Bitcoin’s price movements from late March through late September. The chart shows the holdings of the 10–10,000 BTC group turning higher toward the end of the period, while balances among the smallest addresses remained comparatively flat.
The latest level marks a recovery from declines recorded during parts of August and September. Santiment noted that whale and shark holdings have returned to levels associated with Bitcoin’s mid-August rally.
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| Source: Santiment’s data |
The milestone concerns wallet balances rather than Bitcoin’s market price. As a result, the six-week high does not represent a corresponding six-week high for BTC itself. Instead, it reflects an increase in the amount of Bitcoin held collectively by the specified larger-wallet cohort.
Santiment has historically examined changes in these balances as an indicator of broader market behavior. The analytics platform has associated sustained accumulation by larger holders with stronger conditions for Bitcoin and the wider cryptocurrency market, while reductions in their holdings have been linked to periods of greater market pressure.
Flat Small-Wallet Balances Limit the Signal
Santiment’s interpretation also depends on what smaller Bitcoin wallets are doing. The platform considers a combination of rising whale and shark balances alongside declining holdings among the smallest addresses to be a more notable setup.
That pattern would suggest larger holders accumulating while smaller holders reduce exposure. Santiment has pointed to historical periods in which smaller traders sold around market opportunities that were followed by stronger Bitcoin moves.
The current data, however, does not show a clear decline among wallets holding less than 0.01 BTC. Their combined balances have remained largely unchanged, meaning the additional condition identified by Santiment has yet to emerge clearly.
The smallest-wallet category also does not represent the entire retail market. It covers addresses with less than 0.01 BTC, and aggregate balances can remain stable even when individual wallets are actively buying or selling because those changes may offset one another.
Likewise, an increase in the balances of larger addresses does not by itself establish that the Bitcoin was purchased on exchanges. Transfers between wallets and movements across balance thresholds can also influence the figures, while the data does not independently reveal the motives behind individual transactions.
Santiment therefore characterizes the latest whale accumulation as an encouraging market signal rather than a guaranteed indication of future Bitcoin price performance. A continuation of larger-wallet accumulation accompanied by falling balances among the smallest addresses would more closely resemble the historical pattern highlighted in its analysis.
Writer: Marcus RenfieldCrypto Market Analyst & Onchain WriterMarcus Renfield covers cryptocurrency markets with a focus on onchain data, Bitcoin price action, and emerging market narratives. His writing examines how capital flows, network activity, and broader market structure influence short- and medium-term trends.He aims to provide clear, data-informed analysis for readers seeking a deeper understanding of crypto market dynamics.