Santiment: Bitcoin wallets holding 100+ BTC exceed 20,000

Odaily Planet Daily reports that Santiment posted on X that Bitcoin is about to reach a milestone: the number of wallets holding at least 100 BTC has surpassed 20,000. Wallets containing 100 or more BTC currently have a minimum value of $6.78 million and are primarily owned by high-net-worth individuals, funds, long-term holders, or institutions. An increase in this number during or after a price decline can be viewed as a bullish signal. However, as of now, the overall supply percentage held by these key holders has not significantly risen, which has contributed to prices remaining low. If the number of wallets holding more than 100 BTC continues to grow, it indicates that coin holdings are becoming more widely distributed among larger holders rather than concentrated in the hands of a few, suggesting reduced concentration at the top. At the same time, wealth is becoming more concentrated among stronger large holders compared to small retail wallets. Therefore, this is not a signal of decentralization at the smallest level, but rather indicates that more independent entities have reached “whale” status. Historically, an increase in the number of whale wallets has often occurred during accumulation phases, subsequently supporting price recoveries. Growth in wallet numbers must be accompanied by growth in overall held supply, as retail investors gradually sell their tokens to large holders. History shows that retail traders ultimately panic-sell or take profits prematurely, facilitating this phase.