Santiment says Bitcoin is on the verge of passing 20,000 wallets that each hold at least 100 BTC, a signal the analytics firm views as healthier distribution among large holders. As of Thursday, 19,993 wallets met the 100 BTC threshold — roughly $6.71 million per wallet at the time — and Santiment suggested the milestone could be reached by Friday.
The firm noted that a rising count of 100+ BTC wallets indicates distribution across more large holders rather than concentration in a few whales, reducing the risk that a small group can move markets. Santiment described the pattern as “less extreme consolidation at the very top.” It added that an increase in large wallets after a price dip can be a bullish development.
However, Santiment also observed that the overall percentage of supply held by the 100+ BTC cohort hasn’t changed, implying new wallets are breaching the threshold while some long-term holders are selling — a dynamic that helps explain why prices have stayed muted.
Bitcoin was trading near $67,260 on CoinMarketCap, about 47% below its October all-time high of $126,100. Concerns about long-term holders selling heavily have been a prominent factor in the recent three-month pullback. Analyst Will Clemente said on Jan. 14 that “it seems like Bitcoin OGs are done selling aggressively for now,” while Michaël van de Poppe said Bitcoin needs to “find a higher low” before a sustained upward trend can resume, adding “so far, so good for Bitcoin.”
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