Bitcoin Whales Add 46,000 BTC but Weak Network Activity Clouds Recovery

NewsTue, 11 Aug 2026 13:37:22 UTC2 hours ago

Bitcoin (BTC) whales and spot exchange-traded funds (ETFs) are absorbing supply, yet on-chain data shows the wider recovery still lacks depth.

Strong accumulation now sits against weak network activity and thinning liquidity, suggesting the market has not yet moved from a fragile bounce to a durable trend.

The Accumulation Case Looks Strong

CryptoQuant data show that addresses holding more than 10,000 BTC accumulated 46,420 BTC over a 60-day period through August 9. That reading is the highest since March 15 and nearly double the mid-March peak of 23,238 BTC.

Wallets holding 0.1 to 1 BTC reduced balances by roughly 9,700 BTC over the same period.

"This is a notable shift in positioning. The largest holders are increasing their exposure while smaller holders are reducing theirs," an analyst wrote.

Santiment separately counted 90 wallets holding at least 10,000 BTC, a six-month high.

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🐳 Bitcoin's elite wallet count has bounced back to a 6-month high, with 90 wallets now holding at least 10K $BTC.

📈 This is not a tiny signal. There has been a net gain of +6 wallets holding at least 10K+ BTC in the past 8 weeks, a +7.1% rise.

🦐 Micro wallet holdings have… pic.twitter.com/c2khTjHsC5
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Bitcoin Whales Add 46,000 BTC but Weak Network Activity Clouds Recovery

The Accumulation Case Looks Strong

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