Bitcoin wallets holding 10-10,000 BTC hit all time high as price tests $80,400 support

Bitcoin rose 1.7% to around $82,300 on Friday, October 16, as the broader digital asset market rebounded. The uptick in prices coincided with a notable milestone for Bitcoin’s on-chain activity, as the number of wallets holding between 10 and 10,000 BTC reached a record level. Market analytics firm Santiment reported that the number of Bitcoin wallets controlling between 10 and 10,000 BTC climbed to 20,338, hitting an all-time high. This group of wallets represents a wide cohort of significant holders, often described as “large holders” or “whales” in the market. Santiment observed that the growth of these wallets has accelerated sharply since mid-July, in spite of continued price volatility. Historically, changes in the size of this cohort have shown a strong association with Bitcoin’s subsequent price direction.

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