Large Bitcoin wallets are once again accumulating the cryptocurrency as its price consolidates near $71,000, according to analytics platform Santiment. The firm noted wallets holding between 10 and 10,000 BTC now control 68.17% of the total supply, a slight weekly increase. Santiment suggested this shift could signal a potential market bottom if retail investors simultaneously reduce their holdings.
Wallets holding between 10 and 10,000 Bitcoin have begun increasing their holdings again. “Their recent shift to accumulation is a bullish signal,” Santiment stated in a weekend report.
This group’s share of the total Bitcoin supply rose to 68.17% from 68.07% over the past seven days. “This is a positive reversal,” the analytics firm added.
The firm is closely watching the behavior of smaller, retail investors for confirmation. “Ideally, we want to see small wallets (retail) drop while this group rises, signaling a transfer of coins from weak hands to strong hands,” Santiment explained.
Retail buying persistence could indicate more downside is ahead. “Historically, markets tend to bottom when the ‘crowd’ loses hope,” the report noted.
The broader market sentiment remains fearful according to the Crypto Fear & Greed Index. It registered a score of 16, signaling “Extreme Fear” among investors recently.
This accumulation marks a shift from whale behavior just over a week ago. On March 6, Santiment reported whales had sold 66% of the Bitcoin they bought in a prior accumulation period.
Onchain analyst Willy Woo recently echoed a similar view on market conditions. He suggested Bitcoin is “solidly in the middle of its bear market through a lens of long-range liquidity.”
The activity coincides with renewed institutional interest through exchange-traded funds. U.S. spot Bitcoin ETFs recorded their first five-day inflow streak of 2026, attracting roughly $767 million this week.
