Bitcoin Whales Add $9.60 Billion Worth Of BTC Since July: What It Means

Bitcoin has continued to attract buying interest even as its price has climbed in recent months, with larger holders, commonly called ‘whales’ also increasing their holding in the cryptocurrency. Data from crypto analytics firm Santiment suggests that wallets holding between 100 and 1,000 Bitcoin have been steadily accumulating the cryptocurrency since July.

According to Santiment data cited by 24/7 Wall St, wallets holding between 100 and 1,000 Bitcoin have added 113,950 Bitcoins worth around $9.60 billion at current prices, since July 15, 2026.

Bitcoin Whales Increase Holdings As Prices Rise

The holdings of this wallet group have increased by around 2.20 per cent since mid-July to about 5.20 million Bitcoins, according to the report. At current prices, these holdings are worth roughly $440 billion.

The accumulation has taken place alongside Bitcoin’s price recovery. Bitcoin was trading at $58,500 at the end of June 2026 before moving to a high of $70,000 in August and crossing $85,000 in September.

The report added that this wallet group has historically tracked Bitcoin’s price movements more closely than other wallet groups over the past five years.

Why The Data Needs A Closer Look

Incidentally, the wallet figures do not necessarily represent individual investors buying Bitcoin. A single investor can hold Bitcoin across multiple wallet addresses, while one wallet can also hold assets on behalf of multiple customers.

The 100-1,000 Bitcoin category can include private investors as well as exchange cold wallets, custodians, over the counter trading desks, and fund-related wallets. The transfers between wallets controlled by the same custodian can also increase the balance without representing fresh purchases.

Similarly, Bitcoin bought and kept on an exchange may not show up in these wallet statistics. Transfers between personal wallets can also appear as an increase in holdings without necessarily indicating new market demand.

ETF Flows Offer Another Signal

Spot Bitcoin exchange-traded funds (ETFs) provide another way to track institutional demand, as fund issuers report their daily inflows and outflows. 24/7 Wall St. said these ETFs recorded inflows of $999 million on September 21 and $715 million on September 22, taking the combined inflow over the two days to around $1.70 billion. The whale group accumulated $9.60 billion over roughly 10 weeks, compared to around $1.70 billion of ETF inflows over just two days.

The increase in whale holdings comes as Bitcoin has recovered from its June levels, putting greater attention on the behaviour of larger holders. Alongside Bitcoin whale activity, ETF flows and broader market demand remain important factors to watch out for, as Bitcoin continues on its recent gains.