Bitcoin Nears 20,000 Wallets Holding 100 BTC, Santiment Data Shows
February 27 2026
A new data point from crypto‑analytics firm Santiment suggests that the distribution of Bitcoin is becoming slightly less concentrated at the very top. As of Thursday, the platform counted 19,993 distinct wallets that each contain 100 BTC or more—roughly $6.71 million per wallet at today’s price. Santiment’s analysts expect the 20,000‑wallet milestone to be reached as early as Friday.
What the numbers mean
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Increasing large‑holder count: The growth in the number of 100‑plus‑BTC wallets indicates that sizeable Bitcoin holdings are spreading across a broader set of addresses rather than being locked in a few “whale” wallets. Santiment interprets this as a signal of less extreme consolidation among the largest token owners.
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Supply share unchanged: While new wallets are crossing the 100‑BTC threshold, the overall proportion of total Bitcoin supply held by this cohort has stayed roughly flat. This suggests that some long‑term holders are divesting enough to offset the influx of new large wallets, a dynamic the firm says has helped keep price pressure subdued.
- Market context: Bitcoin is currently trading around $67,260, a roughly 47 % decline from its October 2023 all‑time high of $126,100. Over the past 30 days the price has fallen about 24.6 %, according to CoinMarketCap data.
Analyst commentary
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Will Clemente (Jan 14): The veteran Bitcoin analyst noted that “Bitcoin OGs appear to have paused aggressive selling,” implying that the most entrenched holders may be taking a more patient stance.
- Michael van de Poppe (MN Trading Capital): In a recent X post, van de Poppe argued that Bitcoin needs to “find a higher low” to sustain an upward trend, signaling optimism that the market could resume a bullish trajectory if price stability improves.
Potential implications for price
Santiment points out that an uptick in the number of large wallets following a price drop can be interpreted as a bullish signal. A wider base of substantial holders may reduce the risk that a single entity can move the market dramatically. However, the unchanged supply share and ongoing sales from established holders continue to weigh on price, explaining the current suppression.
Key takeaways
| Takeaway | Implication |
|---|---|
| 20,000 + wallets holding ≥100 BTC imminent | Distribution of large holdings is becoming more diversified. |
| Supply share of 100+ BTC wallets steady | New large holders are offset by sales from existing whales, limiting upward price pressure. |
| Bitcoin down ~47 % from recent high | Market remains in a correction phase; price recovery not yet confirmed. |
| Analyst sentiment mixed | Some view the pause in whale selling as positive, while others stress the need for a higher low to sustain a rally. |
Outlook
If the 20,000‑wallet benchmark is confirmed, it will provide a fresh data point for market watchers assessing Bitcoin’s health. A broader distribution of high‑value wallets could enhance confidence among investors that the network is less vulnerable to single‑actor manipulation. Yet, with the overall supply concentration unchanged and price still far below recent peaks, the road to a sustained rally remains uncertain. Market participants will likely continue to monitor wallet distribution metrics alongside price action and on‑chain activity to gauge the next phase of Bitcoin’s trajectory.
Source: https://cointelegraph.com/news/bitcoin-large-wallet-holders-growing-bullish-santiment?utm_source=rss_feed&utm_medium=feed&utm_campaign=rss_partner_inbound
