Analysis: In August, whales added approximately 60,000 BTC to their holdings, while small holders continued to reduce their positions.

BlockBeats News, September 1st. CryptoQuant reported that from August 1st to August 30th, wallets holding over 100 BTC accumulated about 60,000 BTC; wallets holding 1 to 100 BTC sold about 33,000 BTC, and wallets holding less than 1 BTC sold about 14,000 BTC. Overall, large holders absorbed the supply from the market's rise, while small and medium holders took profits during the rebound.

Bitcoin (BTC) mainly traded in the $62,000 to $65,000 range before mid-August and broke out of the range on August 19th. The buying from large wallets significantly accelerated after the price breakout, not just positioning ahead during the downturn. On August 27th, BTC briefly touched $80,000 and reached a high of $81,500 the next day before pulling back.

This rally was not driven solely by leverage-induced chasing but rather by a continuous shift of BTC from small wallets to large wallets. As of August 30th, large wallets had not significantly sold off the approximately 60,000 BTC accumulated earlier, indicating that large holders are still absorbing the market's uptrend. However, this does not guarantee that the $80,000 level will hold or determine BTC's final monthly close at the end of August. If large wallets start selling off the 60,000 BTC accumulated earlier while BTC remains below $80,000, the previous assumption of "absorption" will be negated.