Bitcoin Wallets Holding 10-100 BTC Drop By 600K BTC Since June – Millionaires Cashing Out?

Bitcoin has experienced heightened volatility in recent days, with price action fluctuating between key levels amid ongoing bearish sentiment and market uncertainty. However, despite the turbulence, BTC remains resilient above the crucial $100,000 mark, signaling strength in the long-term trend. Investors and analysts are closely monitoring Bitcoin’s next move as speculation grows over whether it will push toward new all-time highs or enter a deeper consolidation phase.

Recent data from CryptoQuant highlights an intriguing market development. The balance of wallets holding between 10-100 BTC has been steadily declining. From its peak in June 2023, when this cohort held 3.2 million BTC, the total volume has since dropped by 600,000 BTC, bringing the current figure to 2.6 million BTC. This suggests a shift in market dynamics, as mid-sized holders appear to be taking profits or redistributing their holdings.

The implications of this trend remain unclear, but historically, significant shifts in wallet distribution have often preceded major market moves. Whether this signals further downside pressure or simply a redistribution of BTC remains to be seen. For now, Bitcoin’s ability to hold above six figures will be a key factor in determining its trajectory in the coming weeks.

Bitcoin Is Creating New Millionaires

Bitcoin has experienced massive volatility in recent weeks, consolidating below its all-time highs while testing key resistance levels. Although bullish price action continues to support the long-term uptrend, uncertainty and bearish sentiment still dominate the market. Investors remain divided, with some anticipating a breakout into price discovery, while others expect a deeper correction before Bitcoin can sustain new highs.

Top analyst Axel Adler shared key CryptoQuant data on X, revealing a significant shift in Bitcoin holdings among mid-sized investors. The balance of wallets holding 10-100 BTC has been steadily declining over the past several months. From its peak in June 2023, when this cohort collectively held 3.2 million BTC, the volume has dropped by 600,000 BTC, bringing the current figure to 2.6 million BTC. This movement suggests that mid-sized holders have been tak

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Author: Sebastian Villafuerte

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