BlockBeats news, July 20, crypto analyst Amr Taha pointed out that the dynamics within the Bitcoin holder base have recently shown a clear divergence: large whales continue to increase their holdings, while mid-sized wallets are selling off at an accelerating pace.

Specifically, wallets holding 1,000 to 10,000 BTC have seen a net increase of approximately 66,700 BTC over the past 60 days, approaching the level of 68,000 BTC set on June 16. In contrast, wallets holding 100 to 1,000 BTC have seen a net sell-off of approximately 77,800 BTC, marking one of the most aggressive sell-off periods in the current data.

Historical data shows that the behavior of wallets holding 100 to 1,000 BTC coincides with significant short-term market turning points. On April 25, this group's net accumulation exceeded 92,000 BTC. About 10 days later, Bitcoin entered a short-term correction, eventually falling by approximately -29%.

Amr Taha believes that the continued accumulation by large holders reduces the immediately available supply, especially during periods when smaller groups are actively distributing Bitcoin. While group data alone cannot determine future price trends, the current shift of supply toward large wallets may signal a positive outlook for Bitcoin in the medium term.