Wallets holding large amounts of Bitcoin have returned to accumulation as Bitcoin trades near $71,000, according to crypto analytics platform Santiment. Wallets in the range of 10 to 10,000 Bitcoin now hold 68.17% of the total Bitcoin supply. That figure was 68.07% seven days earlier. Santiment described the shift as a “positive reversal” and called it a bullish signal.

The platform said a confirmed local market bottom would require an additional condition. Retail wallet holdings would need to decline at the same time as whale holdings continue to rise. That pattern would indicate a transfer of…