Bitcoin is approaching a major on-chain milestone as the number of wallets holding at least 100+ BTC nears 20,000. As per Santiment, 19,993 unique wallets are holding at least 100 Bitcoin tokens, placing the threshold within reach.
Currently, based on existing prices, a wallet holding 100 or more Bitcoin is equivalent to holding assets worth about $6.78 million. This change in the distribution of wallets is quite significant, especially since it comes at a time when BTC is still trending downward.
Rising 100+ Bitcoin Wallets During Price Weakness
According to on-chain data, it appears that the trend of rising the number of 100+ Bitcoin wallets has not been interrupted, even as the BTC price has been trading below the recent peak. Generally, such scenarios are more akin to accumulation phases than to euphoric phases of rallies.
It is a sign of deliberate buying activity when big wallets increase during price drops. The more powerful players usually add to their exposure when volatility drives away impatient short-term traders. This setting quite often results in a market bottom as supply is slowly transferred from the selling reaction to investors holding for the long term.
Besides, the increase in the number of 100+ Bitcoin wallets is a sign of the growing number of high-net-worth individuals in the market. It indicates that more parties are becoming whales, rather than a small group dominating the growth of the supply.
Source: Santiment
Supply Distribution and Market Structure
While the number of wallets holding at least 100 Bitcoin is rising, the overall percentage of the supply controlled by top stakeholders has not surged. This distinction matters. A sharp spike in supply concentration would suggest aggressive consolidation. Current data, however, point to a gradual redistribution.
This means that although wealth is consolidating into stronger hands compared to smaller retail wallets, it is not becoming excessively centralised at the highest tier. The increase in 100+ Bitcoin wallets reflects broader whale participation rather than intensified control by a narrow group.
There is also a structural link between retail activity and whale growth. Periods of market uncertainty often lead smaller holders to reduce exposure. That supply does not disappear; it is absorbed by larger, long-term investors. As retail selling stabilises, supply available on exchanges typically declines. Over time, reduced liquid supply can influence price stability.
This transition phase connects directly to Bitcoin’s current suppressed price environment. Without a significant jump in supply held by key stakeholders, price expansion remains constrained. However, steady accumulation beneath resistance levels strengthens the network’s long-term structure.
Read more: Bitcoin Price Prediction
What the 20,000 Wallet Threshold Represents
Crossing 20,000 wallets with at least 100+ Bitcoin would mark a symbolic and structural milestone. It confirms that high-net-worth individuals, funds, institutions, and seasoned long-term holders continue to build positions.
On-chain analysis has repeatedly shown that rising whale wallet counts align with accumulation periods rather than distribution tops. During previous cycles, similar wallet expansion preceded broader market recoveries once macro conditions stabilised.
The data does not indicate immediate breakout conditions. Instead, it highlights balance sheet strengthening across larger participants. This shift supports market depth and reduces vulnerability to sharp, liquidity-driven swings.
Bitcoin’s network health cannot be measured solely by price. Wallet distribution provides a more granular view of conviction. The approach toward 20,000 unique wallets holding at least 100 Bitcoin demonstrates sustained capital commitment despite short-term volatility.
Also Read: Best Crypto Wallets in India 2026
Conclusion
The near-term BTC price remains range-bound, but on-chain fundamentals show measurable progress. With 19,993 unique wallets holding at least 100 Bitcoin, the network stands on the verge of a significant milestone. The steady rise in 100+ Bitcoin wallets during price weakness reflects disciplined accumulation rather than speculative excess.
As supply gradually shifts from short-term sellers to larger, long-term holders, Bitcoin’s structural base strengthens. Whether price reacts immediately or not, the data confirms that high-conviction participants continue to position themselves. In past market cycles, such phases have laid the groundwork for the next sustained move.
