Micro Bitcoin (BTC) Holders Are Vanishing at the Fastest Pace Since December 2024
Bitcoin whales and sharks are steadily increasing their holdings as the cryptocurrency trades in the $63,000 to $65,000 range, according to data from Santiment. The accumulation trend has strengthened since the firm’s earlier report, which highlighted a surge in network activity following the Coldcard hardware wallet security incident.
At that time, Santiment noted that active Bitcoin addresses had climbed to a three-month high of 712,000 over the previous seven days, while transactions worth over $100,000 reached a five-month high of 61,800. Affected users rushed to move their funds and reorganize wallets after the breach, triggering a sharp increase in on-chain activity.
In its latest update, Santiment flagged a notable shift. While large holders continue adding BTC to their wallets, micro holders are reducing their exposure at the fastest pace since December 2024. The Coldcard hack remains a major factor, as both whale accumulation and small investor selling began around the same period.
Uncertainty surrounding the CLARITY Act has also contributed to the trend. Bitcoin’s ongoing sideways price action has discouraged retail participants, adding to selling pressure from smaller wallets. This divergence between large and small holders is becoming more pronounced, Santiment explained.
With key stakeholders steadily accumulating while retail investors exit, the analytics platform says the odds of BTC climbing above $70,000 are increasing, making that outcome more likely than a drop below $60,000.
The Coldcard fallout was also evident in CoinMetrics data, which recorded a temporary increase in BTC held on exchanges.
On the institutional side, US-based spot Bitcoin ETFs have recorded four straight days of inflows. On August 6, these funds attracted nearly $129 million. BlackRock’s IBIT led with $123 million in inflows, followed by Fidelity’s ETF with $11.2 million. Outflows came from VanEck’s HODL ($32.7 million) and Valkyrie’s BRRR ($9.07 million). The remaining funds posted smaller additions or ended unchanged. The latest stretch of gains has pushed monthly inflows to nearly $755 million.