Santiment: Bitcoin wallets holding more than 100 coins exceed 20,000

Odaily Planet Daily reports that Santiment posted on X platform stating that Bitcoin is approaching a milestone, with the number of wallets holding at least 100 BTC exceeding 20,000. Wallets holding 100 or more Bitcoin are currently worth at least $6.78 million, mainly owned by high-net-worth individuals, funds, long-term holders, or institutions. An increase in this number during or after price declines can be seen as a bullish signal. However, so far, the overall supply share of key holders has not significantly increased, keeping prices low. If the number of wallets with over 100 BTC grows, it indicates that holdings are distributed among more large holders rather than being concentrated in a few, suggesting a decrease in top-tier ownership concentration. At the same time, compared to small retail wallets, wealth is increasingly concentrated among more powerful large holders. Therefore, this is not a sign of minimal decentralization, but it shows that more independent entities have reached “whale” status. Historically, an increase in whale wallets often occurs during accumulation phases, followed by price support and recovery. Growth in wallet numbers must be matched by an overall increase in supply holdings, as retail investors gradually sell tokens to large holders. History shows that retail traders eventually panic-sell or take early profits, triggering this phase.