As Bitcoin (BTC) price dropped nearly 2% over the past 24 hours after it was rejected at a resistance level around $65,180, on-chain data shows that the number of elite holders, wallets with at least 10,000 coins, has climbed to its highest level in six months.
The number of elite Bitcoin wallets is at 90 on August 11, according to data from Santiment Intelligence. Over the past 8 weeks, these wallets have grown by about 6 accounts, or a 7.1% increase.
As a result, the number of elite BTC wallets has returned to a level last seen in early February 2026, a period when they were declining. Notably, these investors were declining at the beginning of this year as Bitcoin’s price capitulated below $80,475, cementing its macro bear market.
However, since early June 2026, the flagship coin has seen its elite wallets gradually increase, reaching a 6-month peak as of press time. With Bitcoin’s micro-investors, accounts holding less than 0.01 BTC, shrinking, Santiment Intelligence concluded that the odds of a bullish rebound are higher.
“Smaller holders are losing share, while the largest wallets are gaining presence again. Supply is rotating toward stronger hands before the next major market fluctuation, and this usually increases the likelihood of that fluctuation being a bullish one,” Santiment concluded.
Bitcoin price outlook amid renewed demand from elite investors
The renewed demand for Bitcoin from elite holders has coincided with a rebound in active addresses over the past two months, as Finbold reported. As such, BTC price is up 0.2% over the last 30 days, trading at $64,080 at the time of publication
During the past 24 hours, Bitcoin’s trading volume surged 42%, to hit $21.64 billion at the time of reporting. If elite holders continue to increase amid rising on-chain activity, BTC price could rally above its supply level near $65,180 towards $67,000, as Finbold highlighted.
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