Bitcoin Whales Are Quietly Taking Back Control

The largest Bitcoin holders are accumulating again, and the on-chain data is hard to ignore. The number of wallets holding at least 10,000 $BTC has climbed to 90, a six-month high, according to analytics firm Santiment. Over the past eight weeks, the count of these whale wallets has risen by six, a 7.1% increase.

Whales Buy as Retail Steps Back

Since July 29, wallets in the 10,000 to 10,000 BTC range have accumulated BTC worth $1.5 billion. The timing matters. Meanwhile, micro wallets have been steadily shrinking throughout August.

Santiment links this divergence to two recent catalysts of uncertainty: the Coldcard hardware wallet exploit and continued delays to U.S. crypto legislation. It is worth noting that a single entity can split holdings across multiple addresses, and an increase in 10,000 BTC wallets could reflect custody reshuffling rather than new buying. The metric does not distinguish between exchange-controlled addresses, institutional custodians, or true long-term holders.

Historically, rising whale wallet counts are viewed as a sign that key stakeholders still have confidence in Bitcoin's future value and scarcity. These trends point to a classic supply rotation, with coins shifting from smaller holders into the wallets of the largest investors, the so-called strong hands.

Regulatory Uncertainty Fuels the Divide

The legislative backdrop has added to retail jitters. The Digital Asset Market Clarity Act would create a federal rulebook for issuing, trading, and holding digital assets, dividing oversight between the SEC and the CFTC. As of August 9, 2026, the CLARITY Act had still not cleared the Senate floor, though Senate Majority Leader John Thune promised a floor vote would happen before the August recess.

A CLARITY Act passage that restores regulatory certainty and brings retail back in volume would change the calculus, removing the uncertainty-as-accumulation-catalyst dynamic that currently benefits existing holders. Until then, the data points in one direction. Santiment has noted that the pattern of larger players accumulating while smaller holders sell raises the odds of a move above $70,000 versus a drop below $60,000.

Sources:
CoinDesk: Bitcoin's Strongest Hands Are Back, On-Chain Data Show
Forbes: Crypto's Landmark CLARITY Bill Is Running Out of Time
Santiment: Bitcoin Whale Numbers Have Risen Significantly