Mid-Sized Bitcoin Wallets Add 113,950 Bitcoin as Price Rally Nears Test

Wallets holding between 100 and 1,000 BTC have added 113,950 Bitcoin since July 15, lifting their combined holdings 2.22% to 5.24 million BTC, according to Santiment.

The accumulation run coincides with Bitcoin price briefly tapping $87,000 earlier this week before retracing and stabilizing near $84,000.Is this durable demand building a base for a breakout, or is it a squeeze-driven bounce that stalls the moment leverage unwinds?Not everyone is convinced this move reflects a genuine shift in risk appetite.

Trace Finance co-founder Bernardo Brites says that the speed of the recovery was partly a function of a short squeeze, and that the bigger question is where the new money is actually coming from. “I wouldn’t read this as a broad return of risk appetite.

Bitcoin rallying through a rate hike, $100 oil, and elevated yields suggests some investors are treating it as a hedge against inflation, fiscal and geopolitical risk rather than as a bet on easy money,” Brites said.