Bitcoin rebounded 1.7%, reaching approximately $82,300 on Friday, October 16, as the broader cryptocurrency market showed signs of recovery. Data indicates the number of wallets holding between 10 and 10,000 BTC achieved an unprecedented high, suggesting strong conviction among larger investors.
The global cryptocurrency market capitalization rose 2.3% over 24 hours, reaching $2.86 trillion, according to market data providers.
Major Bitcoin Holder Count Reaches Record Levels
Analytics firm Santiment announced via social media platform X that the number of Bitcoin wallets containing between 10 and 10,000 BTC had climbed to 20,338—a new all-time high. The company noted that this particular wallet group has grown significantly since mid-July, despite ongoing fluctuations in Bitcoin’s value.
Santiment emphasized that this segment of investors historically correlates closely with Bitcoin’s future price movements. The firm suggested that continued expansion within this group during volatile periods signals sustained confidence from significant stakeholders.
Bitcoin’s Strongest Stakeholder Signal Is Climbing Again
Bitcoin’s key stakeholder wallets keep multiplying. There are now 20,338 wallets holding 10 to 10K BTC, an all-time high after climbing sharply since mid-July despite plenty of BTC price volatility.
This cohort… pic.twitter.com/U7X5DD825K
— Santiment Intelligence (@SantimentData) October 15, 2026
Santiment described the upward trend as a positive indicator for Bitcoin bulls. Though short-term price pressures might persist, the steady accumulation by influential wallets implies a firmer base for potential gains if buying activity continues.
Bitcoin Trades Below October Opening Price
CryptoQuant analyst Andrew Kamsky highlighted that Bitcoin is currently testing crucial support near $80,400 following a decline from earlier October highs.
Bitcoin began October on an upward trajectory but fell below its October 1 opening price of $83,576 during the second week. By October 15, BTC was trading around $80,867—approximately 3.2% lower than its monthly opening level.
The asset’s performance also lagged behind historical trends for October. Across the period from 2013 to 2025, Bitcoin typically recorded an average gain of 6.7% and a median gain of 3.8% by mid-month. However, in 2026, BTC was roughly 10% below this historical norm.
Kamsky pointed out that Bitcoin broke below a rising ascending wedge pattern on October 7—a formation that had developed over approximately three months. He now identifies immediate support around $80.4K, aligning with the October 8 low.
“Maintaining this support could sustain a push toward previous wedge resistance, now acting as short-term upward pressure,” Kamsky stated.
“Should Bitcoin close below the support trendline on the 4-hour chart, it would undermine the bullish case and redirect focus toward consolidation zones near $77K, $73.5K, $70K, and $64K.”
Glassnode Observes Reduced Loss-Taking Activity
In a recent analysis, Glassnode analysts identified early indicators of market stabilization, including a notable decrease in loss-taking behavior and increased spending from profitable holders.
Notably, Bitcoin has not closed below its Realized Price during this downturn—a factor Glassnode interprets as evidence of a less severe correction compared to earlier cycles.
Why This Matters
The combination of record inflows into major holder wallets and renewed testing of key technical support presents traders with contrasting signals. The $80.4K threshold remains pivotal; holding this level may support a recovery, while a breakdown could reignite downward momentum toward historical consolidation ranges.