Bitcoin rose 24% in August, from about $63k to $78k. It tagged $80k on 27 August (month high $81.5k the next day), then slipped back. The 31st is not in this sample.

The more useful question is who actually added coins.

From 1–30 August, wallets with 100+ BTC added about 60,000 BTC. Wallets with 1–100 BTC sold about 33,000. Wallets under 1 BTC sold about 14,000.

That split is the month. Large holders absorbed the breakout. Smaller holders used the rally as an exit.

The path was simple. Price sat in a $62–65k range into mid-August. On 19 August it broke out. Large-wallet buying accelerated with the move, rather than only on the dip before it. After the $80k tag, price faded — but this was not a month of leverage-driven chase so much as coins moving up the wallet stack.

This is not a call that $80k holds, or that August is a finished monthly candle. If large wallets start giving back those 60,000 coins while price stays below $80k, the absorption read is wrong. As of 30 August, they have not.

Written by 우민규 Woominkyu