Bitcoin
Bitcoin Price Drops to $81,416 Despite Significant Whale Inflows
Large Bitcoin holders added 86,702 coins over three weeks and exchange outflows spiked, but address data nuances and retail profit-taking kept prices subdued.
Data from on-chain analytics firm Santiment indicates that Bitcoin addresses holding between 10 and 10,000 BTC acquired a collective 86,702 BTC—valued at approximately $7 billion—over a three-week period, lifting their total balances to levels unseen since April 23, 2026. Furthermore, exchanges registered a net outflow of 24,073 BTC in a single day, marking the largest daily withdrawal since March 1.
Despite these metrics, Bitcoin traded at $81,416 on October 8, marking a 3.9% drop over the previous week. Analysis suggests that blockchain address tracking reflects wallet movements rather than verified individual buyers. Routine balance management, such as custodians consolidating addresses or exchanges shifting funds to unlabeled cold storage, can appear as whale accumulation or exchange withdrawals without representing new capital entering the market.
In addition, on-chain metrics revealed that smaller retail addresses holding under 0.01 BTC engaged in profit-taking during recent price increases. The willingness of smaller market participants to sell absorbed the demand from larger wallets, preventing the substantial transfer of coins from generating upward price pressure.
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