Bitcoin (BTC) remained under pressure on Friday as on-chain data showed large holders were still adding to their positions. Summary Santiment said wallets holding 10 to 10,000 BTC added 61,568 Bitcoin over the past month. Bitcoin fell below recent highs as Bhutan-linked transfers and Middle East tensions added pressure again. Retail wallets with under 0.01 BTC kept buying, matching whale accumulation and delaying breakout signals. The move came as retail wallets also kept buying, while market sentiment stayed weak amid fresh geopolitical risk and renewed selling activity from Bhutan-linked wallets. Santiment said wallets holding between 10 and 10,000 BTC added 61,568 BTC over the past month. The firm said that amounted to a 0.45% increase in holdings, even as Bitcoin slipped to the $68,100 area during the latest pullback. The same data showed that smaller wallets did not step back. Santiment said wallets with less than 0.01 BTC added 0.42% over the same period, a pace close to the increase seen among whales and sharks. The analytics firm said large-wallet buying usually works best for price when retail investors are reducing exposure instead of matching the move. Santiment said the current setup has not yet produced a clear breakout. It stated that a stronger upward move has often appeared when larger holders keep accumulating and smaller traders stop chasing price. Bitcoin price weakens after recent rejection Bitcoin traded at $66,349 at the latest check on Friday, according to market data from the finance tool. The same data showed an intraday high of $69,789 and a daily decline of almost 5%, keeping the asset well below the $72,000 level seen earlier in the week. The recent decline has kept traders focused on whether on-chain accumulation can offset near-term selling pressure. Market watchers have tracked a pullback from the recent rebound, with price action failing to hold near the upper end of the current range. Bhutan-linked wallets added to that pressure this week. Reporting based on Arkham Intelligence data said the Royal Government of Bhutan moved 519.707 BTC worth about $36.75 million, pushing its 2026 outflows above $150 million. Middle East risk keeps sentiment fragile Geopolitical tension has also stayed in focus. Reuters reported that the Pentagon is weighing the deployment of up to 10,000 additional US ground troops to the Middle East to give President Donald Trump more military options as he considers peace talks with Tehran. That report followed earlier Reuters coverage that thousands of additional US troops were already expected to move to the region. The buildup has added another layer of caution for risk assets, including crypto, as traders monitor the chance of wider conflict around Iran. Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.
