Numbers don’t always tell the whole story. But sometimes they hint at something worth watching. According to crypto analytics platform Santiment, the total count of Bitcoin wallets holding at least 100 BTC is closing in on 20,000 — a threshold that some analysts are reading as an early sign that confidence among large holders may be quietly building again.
More Big Wallets, More Spread
As of Thursday, 19,993 unique wallets held 100 BTC or more. At current prices, each of those wallets carries roughly $6.71 million worth of Bitcoin. Santiment flagged the milestone on X, saying it could be crossed by Friday.
The significance, according to the platform, lies in what a growing number of large wallets suggests about how Bitcoin ownership is being distributed.
When more wallets reach that threshold rather than fewer, it points to broader holding patterns among big buyers — reducing the outsized influence that a handful of dominant players can have over prices. “In that sense, it points to less extreme consolidation at the very top,” Santiment said.
📈 Bitcoin is about to hit a milestone, surpassing 20,000 wallets with at least 100 $BTC. A wallet with 100 or more Bitcoin is currently worth a minimum of $6.78M, and they’re obviously going to be largely owned from very high net worth individuals, funds, long term holders, or… pic.twitter.com/ayzB0fmguC
— Santiment (@santimentfeed) February 26, 2026
That kind of distribution is generally seen as a healthier sign for the market. Fewer extreme concentrations of supply mean fewer single actors capable of moving prices dramatically with one large transaction.
Bitcoin is currently trading around $68,150, down roughly 45% from its all-time high of $126,000 reached in October. The price drop has been steep. Yet it is precisely during these kinds of downturns that large buyers are historically known to accumulate — which makes the wallet data worth paying attention to.
Old Holders Out, New Holders In
There is a catch, though. Reports from Santiment indicate that the total share of Bitcoin supply held by wallets in this category has not actually changed. New wallets are crossing the 100 BTC line, but some long-term holders appear to be selling at the same time.
One group is coming in as another is heading for the exit. “This is why prices have stayed suppressed,” Santiment said. The buying is real, but so is the selling — and right now they are roughly canceling each other out.
Balance May Be Shifting
Fear that early Bitcoin holders — people who accumulated coins years ago at a fraction of today’s prices — have been quietly offloading their positions has been building for months. It is widely seen as one of the main reasons behind the sustained price decline.
According to Glassnode, it seems like Bitcoin OGs are done selling aggressively for now pic.twitter.com/yrmIDg8cho
— Will (@WClemente) January 13, 2026
Bitcoin analyst Will Clemente addressed those concerns back in January, saying that it appears those long-term holders have stopped selling aggressively, at least for the time being.
The 20,000 wallet milestone, if and when it is reached, won’t flip the market overnight. Bitcoin remains well below its peak, and the tug-of-war between new buyers stepping in and old holders stepping out continues to weigh on prices.
But the data suggests the balance may be slowly shifting. Whether that shift is enough to matter — and when — remains an open question.
Featured image from Unsplash, chart from TradingView
