Bitcoin Accumulation Continues Amidst Price Weakness Below $75,000; Active Wallet Count Declines

Bitcoin experienced a sell-off, trading below the $75,000 level. Despite this price pressure, specific holder groups and corporate entities have continued to accumulate the cryptocurrency. Concurrently, the overall number of active Bitcoin wallets has seen a notable decrease.

Holder Accumulation Trends
In the two weeks prior to the reported period, wallets holding between 1 and 10 Bitcoin accumulated over 10,000 BTC, with specific data indicating an addition of 10,076 coins. Similarly, wallets in the 10 to 100 Bitcoin range added 4,131 coins. Together, these holder groups acquired more than 14,000 BTC while the market was under pressure.

Corporate Buying Activity
MicroStrategy continued its strategy of adding to its Bitcoin holdings. Between November 2 and November 8, 2026, the company purchased an additional 1,036 Bitcoin for approximately $81.9 million, at an average price of $79,012 per BTC. MicroStrategy’s total Bitcoin holdings now stand at 850,364 units, representing a total investment of around $64.16 billion, with an average purchase price across all holdings of $75,456 per unit.

Strive also engaged in Bitcoin accumulation, purchasing 29 Bitcoin for approximately $2.2 million between October 31 and November 6. The average purchase price for Strive’s acquisition was $75,721 per BTC. Following this purchase, Strive’s total Bitcoin holdings increased to 43,153 units, up from 43,124 units as of October 30.

Network Activity Decline
In contrast to this accumulation by specific holder groups, the broader network activity, as measured by the number of non-empty Bitcoin wallets, has declined. According to Santiment, the number of non-empty BTC wallets has decreased by approximately 108,700 since October 16. On October 16, the number of non-empty wallets had reached 59.99 million. The subsequent reduction indicates a notable attrition in active wallets.

Market Context and Uncertainties
The $75,000 level is now a point of observation for the market. The continued accumulation by specific holder groups and corporate entities amidst price weakness may suggest resilience or a belief in future price recovery. However, the significant decrease in the number of non-empty BTC wallets presents a complex signal. Historically, periods of retail capitulation have sometimes preceded market recoveries, but this is not a guaranteed outcome.

Several uncertainties remain regarding the future direction of Bitcoin. It is unclear whether the cryptocurrency will sustain its price above the $75,000 level, or if these accumulating wallets will continue to increase their positions. The reasons behind the decrease in non-empty BTC wallets are also not definitively known; it could represent consolidation of holdings or genuine exits from the market. The potential for Bitcoin to move towards $78,000 or $80,000, or conversely, to break below recent lows, is subject to ongoing market dynamics.

It is important to note that this analysis is based on reported data and observations. The accumulation by specific holder groups and corporate entities does not guarantee future price increases, and the decrease in wallet count does not necessarily indicate a complete exit of retail investors from the market. Further observation of these trends and market conditions will be necessary to ascertain their full implications.

Why This Matters

The materials describe a narrow update: Despite a price drop below $75,000, wallets holding between 1 and 10 BTC accumulated over 10,000 BTC, and those holding 10 to 100 BTC added over 4,000 BTC in the two weeks prior. Whether Bitcoin may hold above the $75,000 level.