The cryptocurrency sector is experiencing significant volatility, with Bitcoin working to reclaim its former highs above $100,000. Data from Santiment reveals a key milestone: over 20,000 wallets now hold at least 100 BTC, worth approximately $6.78 million each. Analysts view this accumulation during a price decline as a potential bullish signal, indicating distribution among large holders rather than extreme consolidation at the very top.
The cryptocurrency sector has been marked by volatile fluctuations and intense transformation in recent months. Bitcoin continues its effort to reclaim a price level above $100,000.
Despite market pressures, Bitcoin accumulation is growing rapidly, with a new milestone achieved. More than 20,000 wallets now hold at least 100 BTC, according to a Santiment report.
A wallet with 100 or more Bitcoin is currently worth a minimum of $6.78 million. These wallets are largely owned by high-net-worth individuals, funds, long-term holders, or institutions.
“When this number rises during or after price declines (like it has been), it can be considered a bullish sign,” the report stated. The data suggests distribution across more large holders rather than control by a small group.
The growing number of these wallets indicates more separate entities are reaching “whale” status. “However, it also shows that wealth is concentrated into strong hands compared to smaller retail wallets,” the report noted.
The overall percentage of supply held by key stakeholders has not significantly risen yet. This factor is cited as a reason prices have remained suppressed.
