Large Wallets Accumulate 60,000 BTC in August, Small Holders Reduce Holdings by 47,000 BTC

From August 1 to 30, wallets holding more than 100 BTC accumulated approximately 60,000 BTC; wallets holding between 1 and 100 BTC reduced their holdings by about 33,000 BTC, while wallets holding less than 1 BTC reduced their holdings by about 14,000 BTC. Large holders absorbed the supply brought by the market's rise, while smaller holders took profits and exited during the rebound. BTC maintained a range of $62,000 to $65,000 before mid-August, breaking above this range on August 19, leading to accelerated buying. On August 27, BTC briefly touched $80,000, reaching a peak of $81,500 the next day before pulling back. This rise was not solely driven by leverage; BTC continued to concentrate from small wallets to large wallets. As of August 30, large wallets had not significantly sold off the accumulated 60,000 BTC, which can still be seen as an absorption of the market's rise. However, if large wallets sell off the accumulated 60,000 BTC while BTC remains below $80,000, the previous absorption assessment will be negated.

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