Santiment: Number of Addresses Holding at Least 100 BTC Nears 20,000, Bitcoin Undergoing "Strong Hands Reallocation"

BlockBeats News, February 27th, Crypto market research firm Santiment posted on social media that Bitcoin is about to reach a milestone — the number of addresses holding at least 100 BTC is about to surpass 20,000. A wallet holding 100 BTC or more is currently valued at a minimum of $6.78 million, and these wallets are apparently mostly held by high-net-worth individuals, funds, long-term holders, or institutions.

When this number continues to rise during a price decline or afterward (as recently observed), it can be seen as a bullish signal. However, the percentage of total supply held by key stakeholders has not shown significant growth, which is also why the price remains under pressure.

If the number of 100+ BTC addresses is growing, it means more large holders are diversifying their holdings rather than a small group controlling everything. In this sense, it indicates a reduction in concentration at the top.

However, this also indicates that wealth is shifting towards strong hands compared to small retail wallets. Therefore, this is not a signal of decentralization at the most granular level, but it does indicate that more independent entities are entering the "whale" ranks. Historically, the growth in whale addresses has often occurred during accumulation phases, followed by supporting price rebounds.

The growth in the number of wallets needs to match the growth in total supply, while retail investors gradually sell tokens to large wallets. History has shown that retail traders will eventually panic sell or take profits too early, allowing this phase to occur.