Bitcoin Nears 20,000 Wallets Holding 100 BTC as Large-Holder Count Rises

Published: 2026-02-27 03:29:18 |

Santiment reports 19,993 unique wallets currently hold at least 100 BTC — just seven short of a 20,000‑wallet milestone. At current prices each 100 BTC wallet is worth roughly $6.7m. Rising counts of 100+ BTC wallets suggest wider distribution among large holders and reduced concentration risk from a small number of whales, which can lower the chance of extreme price swings. However, Santiment notes the share of total Bitcoin supply held by this cohort has not materially changed, implying some long‑term holders are selling as new wallets cross the 100 BTC threshold — a dynamic that can suppress price. Market context and developments from the later update: Bitcoin trades near $67k–69k after a ~24.6% drop over the past 30 days and is ~47% below the October all‑time high. Technicals show RSI in a neutral zone and price below the EMA20. BTC perpetual futures have recovered from a recent low, pushing weekly candles positive. Institutional moves include GD Culture Group (GDC) planning to sell from its ~7,500 BTC reserve to fund a share buyback, and reported interest from a major UAE bank, which may support institutional adoption. Analysts quoted (Will Clemente, Michael van de Poppe) suggest OG long‑term holders may have paused aggressive selling and that BTC needs to form a higher low to resume an uptrend. Implications for traders: the combination of rising large‑wallet counts, some institutional interest, and futures recovery is a constructive mix for market structure, potentially reducing extreme downside risk. Offsetting this, unchanged supply concentration and ongoing liquidation by some long‑term holders help explain recent price weakness. Short‑term volatility remains likely; traders should watch wallet‑count trends, on‑chain supply metrics, futures flows, and whether BTC establishes a clear higher low before increasing long exposure. (Not investment advice.)

Neutral

The news mixes constructive and cautionary signals. On the constructive side, the near‑20,000 count of 100+ BTC wallets points to wider distribution among large holders and reduced concentration risk, which historically lessens the likelihood of abrupt, whale‑driven crashes. Futures recovery and reported institutional interest (GDC reserve activity and a UAE bank’s interest) add supportive structure and potential steady demand. On the cautionary side, Santiment’s observation that the cohort’s share of total supply hasn’t materially increased indicates some long‑term holders are selling as others accumulate — a supply rotation that can cap upside and suppress prices. Technicals (price below EMA20, neutral RSI) and recent steep declines (≈24.6% in 30 days) mean momentum is not yet decisively bullish. For traders this implies probable short‑term volatility: favorable market structure reduces tail‑risk, but meaningful directional trades should await confirmation such as a higher low, sustained futures/inflow strength, or improving on‑chain supply metrics. Therefore the balanced net effect on BTC price is neutral.