Bitcoin Elite Wallets Hit a Six Month High as Retail Backs Away

Bitcoin struggled to hold the 65,000 dollar mark this week, slipping back below 64,000 dollars as market momentum stalled. Despite the price dip, the largest holders are showing strong confidence. There are now 90 wallets holding at least 10,000 Bitcoin, reaching a level we have not seen in six months. This represents a 7 percent increase in these elite wallets over the last eight weeks.

While the biggest players add to their positions, retail interest seems to be cooling. Analysts suggest that smaller holders are selling off due to recent security concerns and regulatory uncertainty. This shift often means supply is moving into stronger hands, which some market watchers view as a positive setup for future price moves.

Institutional demand also hit a speed bump this week. US spot Bitcoin ETFs saw over 144 million dollars in net outflows on Monday, snapping a five day winning streak. BlackRock, Grayscale, and Fidelity funds all reported significant exits during the session.

Traders are now keeping a close eye on the 65,400 dollar resistance level. Clearing this barrier is a top priority for bulls, but analysts say it will take multiple weekly closes above that point to confirm a real breakout. If Bitcoin fails to maintain its current support, prices could drift back down toward 61,500 dollars or even 54,000 dollars.