Bitcoin Whale Addresses Holding 100+ BTC Approach 20,000 Mark: Santiment

Bitcoin Whale Addresses Holding 100+ BTC Approach the 20,000 Mark

On-chain analytics platform Santiment reports that the number of Bitcoin addresses holding at least 100 BTC is rapidly closing in on the psychological 20,000 milestone. This on-chain metric suggests that large investors continue to accumulate Bitcoin despite a steep price decline — currently 47% below its all-time high (ATH).

The rise in so-called whale addresses has traditionally been read as a bullish signal: institutional players and wealthy private investors tend to use correction periods to build their positions. A balance of 100 BTC or more means each of these wallets holds assets worth millions of dollars in fiat terms, underscoring the seriousness of their holders' convictions.

What Large-Scale Bitcoin Accumulation Signals

When the number of high-balance addresses grows against a backdrop of falling prices, it can point to several key trends:

• Long-term confidence — large investors typically operate on extended time horizons and view current price levels as attractive buying opportunities.
• Asset redistribution — Bitcoin is flowing from smaller holders who are locking in losses to major players who are scooping up coins.
• Reduced selling pressure — the concentration of BTC in whale wallets can shrink the available supply on exchanges, which may support prices over time.

Against this backdrop, analyst opinion remains divided: some expect a drop to $35,000, while others forecast a rally toward $80,000. Still, whale wallet activity suggests that "smart money" is betting on a recovery.

On-Chain Analysis: Why Santiment's Data Matters

Santiment specializes in on-chain analytics, delivering data on the behavior of different categories of crypto holders. Tracking the number of addresses at specific balance thresholds is one of the most valuable tools for gauging market sentiment.

Approaching 20,000 wallets with balances of 100 BTC or more is a significant milestone. For context, each of these addresses holds coins worth millions of dollars, making the trajectory of this metric especially telling when it comes to understanding the strategies of major market participants.

Meanwhile, some experts take a more cautious view. Analyst Willy Woo, for instance, has suggested that the Bitcoin bear market could stretch into 2027. If that scenario plays out, the current whale accumulation phase may prove even more prolonged.

Down 47% From ATH: Putting the Current Correction in Context

Bitcoin is currently trading above $67,000, with a market capitalization of $1.35 trillion. The price sits roughly 47% below its all-time high of $126,198, reached in October last year. Over the past month, BTC has shed 24%, while its 24-hour trading volume has surged 23% to $41.56 billion.

Santiment analysts have previously outlined the key conditions for a Bitcoin recovery: easing monetary policy from the U.S. Federal Reserve and a decoupling of cryptocurrencies from the stock market. Until those factors align, whale accumulation data remains one of the strongest on-chain indicators that major holders see value at current levels — even as retail traders continue to exit their positions.