Bitcoin’s elite wallets have rebounded to levels not seen in six months with 90 wallets now holding at least 10,000 BTC, according to analytics firm Santiment. This trend comes as smaller Bitcoin holders continue to lose ground.
The next major market fluctuation could be bullish if the asset manages to breach $65,400, a level that has failed several times. Doctor Profit noted that the level of $65,400 remains important after several failed attempts to break above it. If BTC manages to clear this level, the next major resistance areas could be around $77,000 to $78,000 and $83,000. However, a rejection below $61,500 or even $54,000 could re-introduce uncertainty in market sentiment due to stablecoin holders showing more fear of missing out as BTC pushes higher.
### US Spot Bitcoin ETFs Experience Negative Outflows
US spot Bitcoin ETFs experienced $144.67 million in net outflows on Monday, marking their first negative session for August. BlackRock’s IBIT lost $53.5 million, Grayscale’s GBTC over $52 million, and Fidelity’s Bitcoin ETF saw losses of over $40 million.
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Written by Oliver Grant
Markets Desk
