Large Bitcoin holders are amassing despite Bitcoin being under $65,000, which means institutional and accredited investors are not deterred by less-than-optimal price action and uncertain regulatory circumstances.
According to the latest on-chain metrics and ETF flow data, buying demand from large players is increasing, while retail sentiment remains weak.
Evidently, according to blockchain analytics firm Santiment, wallets holding between 10 BTC▲$77,666.00 and 10,000 BTC had been amassing over 20,000 BTC since 29 July.
At current prices, that’s about $1.2 billion more in Bitcoin acquired over most of 2026, when the cryptocurrency traded largely in a tight range below $65,000.
According to the on-chain analysis company Santiment, large holders behave very differently than small holders, who continued to reduce their exposure to BTC; this divergence improves Bitcoin trading odds above the $70,000 level, while greatly decreasing the chance that it will drop below the $60,000 level.
Analysts claimed the price’s fall was due to uncertainty surrounding the CLARITY Act, the lack of directional price movement in the preceding month, and the hacking of Coldcard hardware wallet during which about $120 million worth of Bitcoin was stolen.’
Read More: Why Institutions Keep Buying Bitcoin While Altcoins Keep Bleeding
ETF market is also seeing institutional growth. According to the crypto data aggregator SoSoValue, US spot Bitcoin ETFs saw $754.69 million in net inflows this week, putting the products on track to have their best week since April. Though after a tough June, when the funds had their worst month since beginning, this demand has returned.
Nexo analyst Liya Kalchev said ETF-related volumes are the first indication of institutional demand re-emerging, adding that spot Bitcoin ETFs raised over half a billion dollars in August alone. Spot Bitcoin ETFs had higher daily inflows, such as on Wednesday itself, when over $240 million flowed into them.
Bitcoin, however, has yet to respond with a decisive breakout to the upside. Kalchev said it also signals that the current bid is likely tactical and not driven by conviction-based allocation to Bitcoin market. She argued the market needed to break convincingly above $65,000 for a more common narrative of recovery to take hold.
Read More: Will Crypto Market Recover by End of 2026? 5 Factors That Could Decide Crypto’s Future
However, technical indicators suggest that the market may see a larger rally if resistance levels are passed, with regulatory news remaining a key factor for investors.
Though it seems unlikely the CLARITY Act will pass through the U.S. Senate this month, market players continue to wait and see what will happen with the legislation, which is seen as key for large institutional players.
