Bitcoin is close to surpassing 20,000 unique wallets holding at least 100 BTC, a development Santiment says could indicate healthier market dynamics. As of Thursday, 19,993 wallets held 100 BTC or more — roughly $6.71 million per wallet at publication — and Santiment predicted the milestone might be reached by Friday.
“If the number of 100+ BTC wallets is growing, that suggests distribution across more large holders rather than a small group controlling everything,” Santiment said, noting this reduces the perceived risk that a few whales can move markets.
Santiment described the trend as signaling “less extreme consolidation at the very top.” The increase in large holders after a price drop can be a bullish sign, the platform added, though it also observed that the overall percentage of supply held by the 100+ BTC cohort hasn’t changed. That suggests new wallets are reaching the threshold while some long-term holders appear to be selling — a dynamic Santiment said helps explain why prices have remained suppressed.
Bitcoin remains well below its October all-time high of $126,100, down about 47%, and was trading near $67,260, according to CoinMarketCap.
Concerns about long-term holders selling aggressively have been prominent over the past three months and are seen as a key factor behind the recent pullback. Analyst Will Clemente said on Jan. 14 that “it seems like Bitcoin OGs are done selling aggressively for now.” MN Trading Capital founder Michaël van de Poppe added that Bitcoin needs to “find a higher low” before the upward trend can continue, and said, “so far, so good for Bitcoin.”
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