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Large Bitcoin holders have increased their holdings as Bitcoin traded near the $71,000 level, according to Santiment. The analytics platform said wallets holding between 10 and 10,000 BTC controlled 68.17% of Bitcoin’s supply, up from 68.07% seven days earlier. The change followed a period of selling earlier in March and came as Bitcoin remained above $71,000.
Bitcoin traded around $71,350 at the time of reporting. Over the past seven days, the asset posted a gain of more than 6%. Over the past 30 days, Bitcoin rose more than 7%, according to market data. The latest wallet activity has drawn attention because it coincided with Bitcoin’s recovery from recent lows.
Santiment reported that wallets holding between 10 and 10,000 BTC added to their positions during the past week. As a result, this group’s share of Bitcoin’s total supply increased by 0.10% points. The platform described this wallet category as a key segment to watch in the current market.
The update came after a different trend earlier this month. On March 6, Santiment said large holders had sold 66% of the Bitcoin they bought between Feb. 23 and March 3. This selling took place as Bitcoin moved above $70,000 and briefly reached $74,000. The latest data shows that this group has since raised its holdings again.
Santiment said it is also tracking smaller Bitcoin wallets for signs of a possible market bottom. According to the platform, past market bottoms have often formed when smaller holders reduced exposure while larger wallets increased their share. In its latest update, Santiment said it wants to see small wallets decline while larger wallets continue to rise.
The platform also said continued buying from retail traders could affect how the current setup develops. Its report stated that the Bitcoin price has historically reached local bottoms when smaller investors lose confidence and begin selling. For that reason, Santiment said retail wallet behavior remains an important data point alongside whale accumulation.
Market sentiment data remained weak during the same period. The Crypto Fear and Greed Index stood at 16 on Sunday, placing it in the “Extreme Fear” category. This reading showed that caution remained in the market even as Bitcoin recovered above $71,000.
At the same time, US spot Bitcoin exchange-traded funds recorded their first five-day inflow streak of 2026. The weekly total reached about $767.32 million. The inflow streak added to signs of institutional demand as Bitcoin held near current levels.
On-chain analyst Willy Woo also commented on the broader market structure. He said Bitcoin remains in the middle of a bear market when viewed through long-range liquidity conditions.
Overall, Santiment noted that Bitcoin has outperformed the S&P 500 over the past five weeks. During the same period, Bitcoin rose 2.4%, while the S&P 500 fell 2.2% and Gold rose 3.7%.
Also Read: Bitcoin News Today: Federal Reserve Basel III Plan Gives BTC a 1250% Risk Weight
