The number of Bitcoin wallets holding between 10 and 10,000 BTC has reached an all-time high of 20,338, according to data from Santiment. This cohort has seen a sharp increase since mid-July, suggesting that large investors are maintaining their positions despite recent market volatility.
Conversely, market sentiment on Binance has shifted toward short positions, with funding rates turning negative at -0.0073%. Analyst Darkfost notes that since the neutral rate is 0.01%, current levels indicate a dominance of short sellers, driven by concerns over inflation data and potential interest rate hikes.
Institutional activity has also cooled, with US spot Bitcoin ETFs recording net outflows of approximately $539.8 million between October 1 and 14. This follows significant inflows of $3.52 billion in August and $2.65 billion in September.
Bitcoin is currently trading at $82,034, reflecting a 1.49% increase over the last 24 hours. This rebound places the price above the average cost basis for US spot ETF holdings, which is approximately $81,500. Analysts are now monitoring the $80,000 and $74,000 levels as key support zones.
