Bitcoin Wallets Holding $100 BTC about to hit 20K: Santiment

Crypto analytics platform Santiment says that Bitcoin will soon surpass 20,000 wallets with 100 Bitcoin or more, an indicator which could indicate a positive market dynamic.

Santiment: As of last Thursday, 19,993 wallets held 100 BTC and more. This is equivalent to approximately $6.71 Million per wallet. said Post X in an email. Santiment believes that this milestone may be achieved by Friday.

“If the number of 100+ BTC wallets is growing, that suggests distribution across more large holders rather than a small group controlling everything,” Santiment stated. This is a very important message for Bitcoiners as it lowers the perception that just a few whales could have swayed prices.

Santiment Points “less extreme consolidation”

“In that sense, it points to less extreme consolidation at the very top,” Santiment spoke.

Trends also indicate a rising level of confidence for Bitcoin’s turnaround (BTCThe current price of $67,260 is down 47% from the October high of $126,100. according CoinMarketCap is a great place to start.

Santiment said that an increase of the number large wallet owners after a Bitcoin drop could be a positive signal. 

It noted, however, that although new wallets have reached 100 bitcoins, long-term investors are probably selling.

“This is why prices have stayed suppressed,” Santiment pronounced:

Are Bitcoin OGs done “selling aggressively” What about now?

The fear that Bitcoin’s long-term owners are planning to sell has been growing over the last few months. It is now widely believed this was the main catalyst for the recent price drop.